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Errors on Tax Return May Delay Reimbursement (VIDEO)

It is likely that the Internal Revenue Service(IRS) will take longer than usual to process your tax return if you make a mistake on your paperwork.  Consequently, delaying your reimbursement.

“If you use an expired ITIN on a U.S. tax return, no refund will be paid at the time without any exemptions and/or credits,” the IRS mentions in a communication.

Information about the expiration and renewal of the ITIN is available at IRS.gov.

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Nine common errors to avoid  when preparing your taxes:

  1. Missing or Inaccurate Social Security Numbers. Be sure to enter each SSN on a tax return exactly as printed on the Social Security card.
  2. Misspelled Names. Spell all names listed on a tax return exactly as listed on that individual’s Social Security card.
  3. Filing Status Errors.  Some people claim the wrong filing status, such as Head of Household instead of Single. The Interactive Tax Assistant on IRS.gov can help taxpayers choose the correct status.  E-file software also helps prevent mistakes.
  4. Math Mistakes.  Math errors are common.  They range from simple addition and subtraction to more complex items.  Transactions like figuring the taxable portion of a pension, IRA distribution or Social Security benefits are more difficult and result in more errors.  Taxpayers should always double check their math.  Better yet, tax preparation software does it automatically, so file electronically.
  5. Errors in Figuring Tax Credits or Deductions.  You can make mistakes figuring your Earned Income Tax Credit, Child and Dependent Care Credit, the standard deduction and other items.  Taxpayers need to follow the instructions carefully.  For example, if you are 65 or older, or blind,  you need to make sure to claim the correct, higher standard deduction.  The IRS Interactive Tax Assistant can help determine if you are eligible for tax credits or deductions.
  6. Incorrect Bank Account Numbers.  The IRS strongly urges all taxpayers who have a refund to choose direct deposit.  It’s easy and convenient.  Be careful to use the right routing and account numbers on the tax return.  The fastest and safest way to get a refund is to combine e-file with direct deposit.
  7. Forms Not Signed.  An unsigned tax return is like an unsigned check – it’s not valid.  Both spouses must sign a joint return.  You can avoid this error by filing your return electronically. Sign an e-filed tax return digitally before sending it to the IRS.
  8. Electronic Filing PIN Errors. When e-filing, you need to sign and validate the tax return electronically with a prior-year Self-Select Personal Identification Number.  If you do not have or know your PIN, you should enter the Adjusted Gross Income from your 2015 tax return originally filed with the IRS.  You should always keep a copy of your tax return.
  9. Filing with an expired ITIN.  You will receive a notice from the IRS explaining that an ITIN must be current before any refund is paid.  Once the ITIN is renewed, exemptions and credits are processed and any allowed refund paid.  ITIN expiration and renewal information is available on IRS.gov.

The IRS recommends making sure that the preparer places the identification number (PIN).  The tax return is your responsibility as well as the preparers.  You should never sign a blank statement.

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