tax preparation

Common Errors in Tax Preparation

Mistakes can happen when you’re preparing your taxes, even with all the technological automation on hand. A good way to avoid the oversight is to keep a list of common errors that can happen when making your report.

Assuming the wrong due date
Confusion over the most advantageous filing status
Not claiming the Earned Income Tax Credit
Failing to list all information for dependents
Forgetting to include interest and dividends
Forgetting to include early withdrawals from retirement accounts
Failing to report transactions in cryptocurrency or other virtual currency

Madison, Tammara “Seven common mistakes in tax preparation.”

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