Tax Day 2025: Last-Minute Tips to Avoid Costly Mistakes
Tax Day is almost here! While many have already filed, millions still need to submit their returns. But don't panic; there's still time, but accuracy is crucial. The IRS has highlighted common errors that cause delays, and we're here to help you avoid them.
Common Tax Filing Mistakes to Avoid
The IRS has identified several key areas where mistakes often occur. Let's tackle them:
- Social Security Number (SSN): Double-check your SSN for accuracy; even a single digit error can create major headaches. Ensure it matches your Social Security card.
- Name: Match the name on your return precisely to your Social Security card. Inconsistencies cause delays.
- Filing Status: Unsure of your filing status? Use the IRS Interactive Tax Assistant or contact the IRS directly for guidance.
- Credits and Deductions: Don't claim credits or deductions you aren't eligible for. The Interactive Tax Assistant can help determine your eligibility.
- Math Errors: Double (and triple!) check your calculations. Many returns are delayed due to simple mathematical errors. Tax software can help significantly here.
- Bank Account Information: If opting for direct deposit, verify your routing and account numbers meticulously. Errors can lead to delays or even funds going to the wrong account.
- Signature: Both you and your spouse (if filing jointly) must sign the return. Even with professional help, your signature signifies your responsibility for the return’s accuracy.
Tax Software and Extensions
Using tax filing software can significantly reduce errors, especially math errors. CNET's 2025 list of best tax software can help you choose a reliable option. If you need more time, explore the possibility of filing for an extension. However, remember that an extension only delays the filing deadline, not the payment deadline.
State-Specific Extensions
Remember that some states offer extended deadlines due to weather events. Check your state's Department of Revenue website for specific details.
Don't Panic!
Making a mistake doesn't mean disaster. The IRS will often contact you if they identify issues. Addressing errors promptly is key to resolving any problems quickly. However, proactive accuracy is always best!