Avoiding mistakes on tax returns vital as tax season approaches

Avoiding mistakes on tax returns vital as tax season approaches

On Behalf of | Dec 21, 2020 | Tax Law

To the dread of many Colorado residents and those across the country, tax season is just around the corner. Though many taxpayers do their best to make their tax payments, file their tax returns and abide by the ever-changing tax laws, it is easy to wind up in the figurative crosshairs of the Internal Revenue Service. It is possible for taxpayers to face audits or receive notice of other actions from the IRS, but doing one’s best to avoid mistakes is helpful in preventing such outcomes.

One of the biggest mistakes that can lead to tax issues is not providing the correct information. Even information that seems easy, like a Social Security number or even a person’s own name, could end up incorrect on a tax return due to typos or other errors. While these simple issues may not cause tremendous difficulties, they could still result in the IRS rejecting a return or conducting an audit for more information.

Math errors can also easily result in the IRS having questions about a tax return. Typically, these errors occur more often with individuals not using tax software or a professional to file their taxes, but the IRS sees many math mistakes on returns every year. If a person is not sure of his or her math skills, it may be worthwhile to enlist help.

In the event that tax returns are rejected or taxpayers receive an audit notice, it is important to know that such outcomes are not the end of the world. Documents can be corrected using the proper forms, and even if individuals face audits, they do not have to try to deal with the IRS on their own. Tax law professionals could help interested Colorado residents handle any disputes they may have with the IRS.