Feb 09 5 Common Tax Return Preparation Mistakes Greenville, South Carolina is such a great place to live – this part of the country is beautiful and the people here are absolutely fantastic. And I consider it a blessing to be able to help these people navigate the complex system called the tax code. And for those we don’t have the privilege of serving through tax return preparation, we can offer the following five mistakes to avoid when preparing your tax return: 1. Misspelled names – nothing will kick your return back from the IRS faster than a misspelled name on a tax return. If the name does not match the social security number, you will have issues that will delay your refund. 2. Filing status – this is much more common than you think. Be sure to double check the definitions for filing status before you randomly check a box. Not only could it be wrong, but by using the wrong status, you could be leaving money on the table. 3. Account numbers – for those of us who like to use direct deposit of our refunds, be sure you enter the correct routing and account numbers. If your refund gets deposited into someone else’s account, you will have a big mess to sort out with the IRS (and you may actually lose your refund forever). 4. Incorrect calculations – software has made our lives so much easier when it comes to tax return preparation, but errors still happen. Double check your numbers and be sure to read the instructions for which amounts go where. Software won’t help one bit if you put in the wrong amounts. 5. Missed deductions – to me, this is the biggest sin of all when preparing your tax return. Most people think taking deductions might be too aggressive! Our philosophy is if you are entitled to it, TAKE IT! Don’t leave money on the table, our government has enough money to blow already. So, keep these 5 common tax return preparation mistakes in mind as you prepare your tax return this year and avoid big headaches with the IRS.