Every year, many taxpayers may make mistakes on their returns that cause IRS processing delays. Some common errors may also result in paying too much or too little tax. A miscalculation in either direction can be costly, since the IRS may assess penalties for underpayment.

The following mistakes may not change your tax, but they can cause processing problems. The IRS may even withhold your refund until the errors are corrected.

Missing or Inaccurate Social Security Number (SSN):

Even when filing electronically, many people mistype their SSNs and do not catch the error. If the SSN on your return does not match the number on your Social Security card, the IRS may not be able to process your return.

Misspelled Name:

Take your time when filling in every blank on your return, even your name. A misspelling or illegible writing can prevent proper processing.

Incorrect Bank Account or Routing Number:

Getting your return filed electronically and requesting direct deposit is the fastest way to get your refund, IF you provide accurate information. An error in your banking info can cause big headaches.

Missing Signature:

Remember that in most cases, couples filing jointly must both sign their return.

To avoid costly mistakes, the IRS recommends having a tax professional prepare or check your return and file it electronically. Our tax pros at RTW Xxact may also help you claim deductions and credits that you would otherwise miss. Contact us today at buz@rtwxxact.com.