12 Common Tax-Filing Mistakes You Can Avoid
Bankrate has 12 common and avoidable mistakes people make when filing their taxes.
There's tips like three popular tax breaks that had expired (state sales taxes paid, educator's expenses, and tuition and fees) were renewed last year, fluctuating hybrid vehicle credits, and a change in the taxes on accounts held by young investors:
Previously, once a child turned 14, unearned income was taxed at the youngster's lower tax rates. Now, the qualifying age is 18. Until they reach that age, any earnings in excess of $1,700 are taxed at the parent's ordinary income rate. This change was enacted in May 2006, but was made applicable to all of last year's earnings.
A good checklist of things to check for before filing your return. — BEN POPKEN
12 common tax-filing mistakes you can avoid [Bankrate]
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Comments:
Yeah, where's the cat ? Did someone miss a memo ?
The old man deducted his cat.
I have a friend who forgot one of his W2s when he submitted his taxes online. It cost him $280 and 4 hours of his life to get everything amended and recalculated with his accountant.
He ended up owing more money to the IRS on top of his $280 accountant fee. Bummer.
Guess who was the dumbass who sent in her taxes without signing them this year?!! My accountant put them in these tidy little envelopes: I just crammed the checks in and sent 'em off. *sigh* NY State sent me a note telling me I had to sign a piece of paper or I wouldn't get my state refund. I guess the federal govt doesn't need my signature to cash my fat check to them.
And I'm really anal retentive (not expulsive) about that stuff. I double and triple check everything.
The cat's missing from the tax photo -- wtf?