If you’re like many people, the income tax filing process may not be your favorite thing in the world. However, in order to avoid unneeded hassle and potential penalties from the IRS as you file your taxes this year, it’s essential that you don’t make these common filing mistakes.
» Not Including All of Your Income– Income tax filing is pretty simple if you only had one job the previous year and only had one employer. However, things can get a little bit more complicated if you worked multiple jobs or switched jobs halfway through the year. Remember, even if you didn’t receive a tax form from one of your employers, it’s still your responsibility to claim this income on your taxes.
» Forgetting to Claim Deductions and Credits– Even if you don’t think you’re eligible for any deductions or credits, you might be surprised. When you let us help you with the income tax filing process, at Cathy E. Parker, E.A. Bookkeeping & Tax Service, we’ll make sure that you don’t miss out on any deductions or credits you’re eligible for.
» Not Filing in Time– Although you probably already know that tax day is April 15th every year, it’s easy to get caught up with other things and forget to file your taxes. However, you should avoid turning your taxes in late at all costs because if this occurs, the IRS will penalize you.
If you want to find out more about how we can make filing your taxes this year easier than ever, contact us. We look forward to hearing from you and helping you out with your taxes.