Chicago — With April 18 around the corner, the Internal Revenue Service (IRS) has some advice for taxpayers to avoid common errors and get their refunds as soon as possible.
Here is what they recommend for a smooth process, according to AL.com:
Gather all tax documents
Taxpayers should gather forms W-2 and 1099 and any other document to support tax deductions or credits. That includes tax returns from last year.
Filing electronically helps reduce math errors and can help identify potential tax credits or deductions you may be eligible to claim. Make sure you review your return for accuracy. That includes double-checking the name, birth date and social security number for each person you claim as a dependent. As you file electronically, make sure you choose a direct deposit to receive your refund faster. When you do so, double check your routing and account numbers for accuracy, as incorrect numbers can cause delays.
If you have to file a paper return, confirm the correct address of where to file on IRS.gov or on Form 1040 to avoid processing delays.
Use the correct filing status
Need help figuring out your filing status? Head to IRS.gov and use the Interactive Tax Assistant, which can help steer you in the right direction. Tax software, like IRS Free File, also helps prevent mistakes when selecting a status.
Report all taxable income
Most income is taxable and under-reporting can lead to penalties and interests. For more information checkout the IRS’ Publication 525.
Sign and date return
If you and your spouse are filing a joint return, make sure you both sign and date it. If you’re self-preparing your taxes and filing electronically, sign and validate the return by entering your prior year’s adjusted gross income
Keep a copy
Copies can help you prepare for future returns and make math computations if you need to file an amended return. Keep any record that supports an item of income, deduction or credit shown on your return until the period of limitations for that return ends.