5 Common Form 1040 Errors

Every year, the Internal Revenue Service (IRS) comes out with a check list of common mistakes and a check list to help you cut down on return errors.  This year the IRS came out on September 12, 2012 with five common return errors.

The five common tax return (Form 1040) errors according to the IRS are:

5.   Addition and subtraction errors.  Errors in calculating credits, withholding, tax payments, and deductions.

4.  Withholding tax and estimated tax payments were entered on the wrong line on the Form 1040.

3.   Incorrect tax entered on the return.

2.  Wrong filing status

1.  Social Security Numbers are missing or incorrect

The IRS listed the computation errors (credits, withholding, tax payments, and deduction separate from the addition and subtraction errors.  Since both are math errors, I combined them on the same line.  Additionally, the IRS listed the wrong filing status and the income tax entered on the tax return as one line, but since they are separate issues, I individually listed them out.

Most of the errors listed above can be resolved with software if you are preparing the returns yourself (incorrect tax, tax payments entered on the wrong line, and math errors).  So the question is “Do you file paper returns?” or “Do you file your tax return electronically”?  Please feel free to leave a comment below.


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