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4 common errors on income tax returns

On Behalf of | Mar 28, 2023 | Criminal Defense

Filing income taxes isn’t usually at the top of the list of things that people want to do, but it’s something that’s necessary. It’s imperative that you ensure your tax return is fully accurate. 

Errors on your income tax return can lead to problems with the process. Some errors are so serious that you may be audited. From there, the IRS must determine if the errors were intentional or mistakes. Watch out for these four errors when you’re filing your income taxes:

Incorrect or missing personal information

You may make mistakes when entering personal information, such as an incorrect Social Security number. Not only can a wrong SSN delay a refund if you’re due one, it may also lead to the IRS claiming you didn’t file taxes because the return isn’t under your SSN.

Mathematical errors

Calculation mistakes are common on tax returns, especially when you complete their forms manually. Errors can occur when adding up income, calculating deductions or figuring out the correct tax liability. 

Incorrect filing status

Choosing the wrong filing status can affect your tax liability and eligibility for certain deductions and credits. Misrepresenting filing status can lead to tax fraud accusations.

Omitting or misreporting income

You must report all income earned during the tax year, including wages, interest, dividends and income from side gigs. Reporting incorrect amounts can lead to underpayment of taxes and penalties. This could result in claims of tax evasion. 

Ultimately, it’s up to you to ensure your return’s accuracy. It’s unlikely that you’ll face charges unless the errors were deemed intentional. Learn your options for a defense strategy if you find yourself facing tax-related charges.