By filing your taxes online instead of on paper, you can streamline this entire process and reduce the likelihood of making a mistake. While e-filing has definitely made it easier to deal with personal and business taxes, that doesn't mean it's foolproof. It's still possible to make mistakes when you file this way, and plenty of people still do. Not only can making an e-filing mistake cause a headache, but it can also cost you money. Since those are both things you'd probably prefer to avoid, we want to highlight the most common e-filing mistakes that get made every year:
Your Social Security Number
Even though it seems like an obvious thing, statistics show that plenty of people incorrectly enter one or more digits of their social security number. While this mistake is easy to avoid, entering the wrong number can cause a substantial delay with getting your refund. So let this be a reminder to double-check the SSN you enter before proceeding with your e-filing.
Use the Right Name
Whether you go by your middle name instead of your first name or recently got married, there are a number of factors that can result in you frequently using a different version of your name than the one that's legally recognized. Although there's nothing wrong with that, just be sure you use the most current version of your legal name when you e-file. If anything has happened that may have changed your name, you can use the SSA.gov website to check.
Double Check Your Bank Info
One of the advantages of choosing to e-file is you can get your tax refund in much less time than if you file by mail. However, that will only be the case if you enter the right routing and bank account number when you e-file. As with your SSN, double check before submitting. Making a mistake with a single digit can greatly increase how long it takes to get your refund.
Get All Your Ducks in a Row
While e-filing allows the Internal Revenue Service to process your return in much less time, it doesn't mean they're not paying close attention to the numbers you enter and deductions you claim. The last thing you want to do is make any mistake that triggers an IRS notice or audit, so be sure that you have all the necessary forms for filing your return and get that information entered correctly.
If you want to be sure that your return is filed correctly and you're able to maximize your refund, Alpha Tax Services can help. In addition to having over two decades of tax preparation experience, you can instantly get a $50 check when you file with us.