June 4, 2020

Optima Tax Relief provides assistance to individuals struggling with unmanageable IRS tax burdens. To assess your tax situation and determine if you qualify for tax relief, contact us for a free consultation.

It only takes one minor mistake on your tax return like leaving out vital information such as your name, social security number, or even claiming a credit or deduction that you don’t qualify for to completely disrupt your tax return from getting processed. 

Here’s what you can do to avoid common mistakes on your taxes:

  1. Including credits and deductions you don’t qualify for. It can become overwhelming for a taxpayer when they start reviewing the number of credits and deductions they might qualify for. When you do find credits that you feel could be placed on your tax return, make sure to read the fine print. Some credits could have phased out for you if your income exceeds the required threshold you would need in order to qualify for the credit. Or, if you have already included your tuition and fees deduction for the same expenses that you are attempting to apply for, that could also cause a rejection. Sometimes even your filing status could hinder you from qualifying for a credit or deduction.
  2. Health Care Reporting Error. There are many reporting requirements that a taxpayer must review before placing any health care information on their tax return. One of the most common errors that the IRS sees when reviewing a tax return is when a taxpayer fails to claim coverage exemption and not reconciling advance payments for the premium tax credit. 
  3. You forgot to sign your tax return. If you’re in a rush to mail in your tax return, you may just forget the most important part, signing your return. The IRS even cites this as another common mistake that a taxpayer will make when sending in their return. It’s also important to note that any unsigned tax return will not be processed by the IRS and will be considered invalid. 

Always be sure to take your time and review all the information that is placed on your tax return. Taxpayers should always review any potential credits or deductions they could potentially qualify for and if you are unsure of what those are, speak with a tax professional for assistance.

If you need tax help, contact us for a free consultation.