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Personal and business accounting may seem like something you can manage on your own, but often, utilizing the experience of an accounting professional can be helpful in avoiding costly mistakes. Read More »
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Common Tax-Filing Mistakes

Every time a new year comes around, people start scrambling to get their taxes done before the April 15th deadline. While most Americans choose to have a professional file their taxes, personal filing has been on the rise in recent years. Although many who file their own taxes believe they’re doing a fine job, the truth is many Americans leave money on the table due to common filing mistakes. Not only can these errors cost you hundreds or even thousands of dollars, constant errors in your yearly filings can lead to you being audited by the Internal Revenue Service (IRS). Thankfully for Austin residents, a qualified accounting professional can ensure that your taxes are being filed per IRS regulations and that you’re receiving the maximum amount of return money possible.

Common Filing Mistakes

The following is a list of the most common filing mistakes accountants see being made when taxpayers file their own returns:

  • Math errors – simple math miscalculations can lead to the IRS double-checking your return
  • Misspelled or different names – these errors can lead to major delays in the processing of your return, especially for newly married men or women who have changed their last name
  • Direct deposit troubles – splitting your return among different bank accounts can lead to jumbling up account numbers, resulting in you never getting your return
  • Additional income sources – make sure to mention other sources of income, such as savings and investment accounts
  • Filing status mistakes – couples filing separately or newly divorced individuals should make sure they file for the correct status for their situation

By consulting a certified accounting professional in Austin, you can rest assured that your tax return will not contain any of the aforementioned mistakes.

Contact Us

If you’re interested in getting some personal assistance with your finances, you should discuss your specific situation with a certified consultant. For more information about how a professional accountant can help prevent you from committing errors while filing your tax return, fill out the contact form at the top of this page.