Debt Free

Well, tomorrow’s the day. The one so many Americans dread every year, April 15^th. Wait, this year it’s April 17^th. Why is the tax filing deadline delayed this year? Everyone can thank our friends in New England for the two day tax reprieve. It seems that they have a little holiday in that part of the country known as Patriot Day. No, it’s not Tom Brady’s birthday, either. But, since the traditional tax filing day is on Sunday this year, and the following Monday happens to land on Patriot Day, we all get an extra day to have our taxes in to the IRS.

Here are some of the most common mistakes the IRS finds when opening those last minute tax packages.

Tax Filing Mistake #1 - Failure to sign the tax return. Remember, if you’re filing jointly, both spouses must sign and date the return. Just take one last peek to be sure everybody signed on the dotted line.

Tax Filing Mistake #2 – Failure to enclose your W-2. As with mistake #1, remember if filing jointly, you both need to enclose your W-2 forms to keep the Feds from going into a tizzy.

Tax Filing Mistake #3 – Failure to enclose payment. Remember, even if you’re filing an extension, you still need to pay what you think you may owe. If you really don’t have any money, you can ask for an installment plan, or if you can prove hardship, you can file IRS tax for 911 to ask for a waiver. Be prepared to prove it.

Tax Filing Mistake #4 – New for this year, forgetting the Federal long distance tax refund. More than half the people who were eligible for this failed to claim it. That’s a $60 dollar mistake. The money is yours for the asking, a rare thing from the IRS, agreed?

Tax Filing Mistake #5 – Missing out on deductions for state sales tax, tuition, and educators out of pocket expenses. It’s relatively easy to miss these deductions, because congress screwed around so long there wasn’t time to include them on printed tax return forms. Maybe that was the plan all along? In any case, these could add up to substantial money back for you, so make sure you include them in your calculations. See here for more information on how to claim these deductions.

What the hell are you still reading this for? You’re late, go get those taxes filed.