To receive your refund timely and without hassle, the best strategy is to ensure filing an accurate tax return. An accurate return can mean taking your time filing and sometimes seeking professional assistance. If you’re going it alone, be careful of the mistakes people often make on their taxes. These are the most common according to the IRS:
- Incorrect filing status
- Social Security Number(s) incorrect, missing or doesn’t match the name(s) listed
- Incorrect or missing forms and schedules
- Return not signed
- Claiming ineligible dependents
- Failing to claim credits (Child Tax Credit, Earned Income Credit, etc.) or figuring credits incorrectly
- Failure to report and pay domestic payroll taxes (if you are employing a maid, in-home caregiver, nanny, etc.)
- Forgetting to claim income that’s not included on a Form W-2, Form 1099 or another return
- Failing to figure whether or not you’re liable for the Alternative Minimum Tax (AMT)
- Entering the wrong amount of taxable Social Security benefits
- Mailing your return to the wrong address
- Math errors
- Not itemizing
Get Your Maximum Refund with TurboTax®
“In this world nothing can be said to be certain, except death and taxes,” Benjamin Franklin said it first. And it remains true today. Just remember, you don’t have to navigate the tax experience alone.
TurboTax is for everyone
Just beginning to understand the tax return ‘experience?’ Or could you use a few helpful reminders about filing your next return? Our partner, TurboTax, offers a variety of useful information for both the beginner and not-so-new tax filer. View their site for timely tax tips or articles. TurboTax also offers a number of online filing tools perfect for every situation.
As an ECCU member, you can take advantage of our special affiliation and discounts on a range of TurboTax products. Whether you’re single, married, have children or a business, TurboTax guarantees 100% accurate calculations and your maximum refund. Visit their site to get started. They also have experts on hand 24/7 to answer your questions by phone, web chat or email.