Top 5 Mistakes to Avoid When Filing Taxes

Introduction

Every year, millions of Americans file their taxes — but many make mistakes that cost money, refunds, and sometimes even penalties. Knowing the most common errors can help you avoid delays and save time.

At Priority Taxes & Business Solutions, we help individuals and businesses file taxes correctly with professionalism, honesty, and support.

Mistake 1: Filing Late

Missing the IRS deadline leads to penalties and interest. Always mark your calendar and file on time, even if you cannot pay in full. Extensions are available but don’t extend payment deadlines.

Mistake 2: Incorrect or Missing Information

Typos in Social Security Numbers, ITINs, names, or bank account details can delay your refund. Always double-check your forms before sending them.

Mistake 3: Forgetting to Report All Income

Freelance work, tips, side jobs, or investment earnings must be reported. The IRS receives copies of your 1099s and other forms — failing to include them can trigger audits.

Mistake 4: Overlooking Deductions and Credits

Many taxpayers miss deductions like student loan interest, child tax credits, or business expenses. Claiming all eligible credits can significantly reduce your tax bill.

Mistake 5: Using an Expired ITIN

If your ITIN is expired and you file taxes, the IRS will delay your refund until you renew. Always check your ITIN status before filing.

Conclusion

Avoiding these mistakes will make filing smoother and less stressful. The IRS is strict, but with preparation, you can stay compliant and maximize your refund.

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