Simple Mistakes Plague Late Season Tax Filers
H&R Block Warns Errors Can Cause IRS Overpayments
KANSAS CITY, Mo.--(BUSINESS WIRE)-- Make no mistake: The race to meet the April 15 tax filing deadline can cause avoidable errors that lead to overpayments to the IRS or delayed refunds. H&R Block (NYSE: HRB) reminds last-minute filers that they can save time and money by avoiding these common filing mistakes:
- Selecting the incorrect filing status - single, married or head of household.
- Claiming ineligible dependents.
- Failing to claim or incorrectly calculating important tax credits, such as the Earned Income Tax Credit or the Child Tax Credit.
- Forgetting to check liability for the Alternative Minimum Tax.
The number of taxpayers e-filing their returns may be on the rise, but millions of Americans still prefer to submit a paper return. For last-minute paper filers, H&R Block cautions against these common tax-time mistakes:
- Completing the wrong IRS form or schedule.
- Listing Social Security number(s) that are incorrect or don't match the name(s) on the return.
- Forgetting to submit documentation, such as W-2s.
- Transposing numbers, making addition and subtraction errors.
- Not signing the tax return. On a joint return, both the taxpayer and spouse must sign.
- Mailing the return to the wrong IRS address.
"In the race to meet the looming tax deadline, last-minute filers are susceptible to these common mistakes," said Amy McAnarney, executive director, the Tax Institute at H&R Block. "H&R Block's advice to these taxpayers is simple: Get started as soon as you can, and if you get stuck, contact us. Most of our offices are open extended hours to help."
Select H&R Block offices will be open 24-hours on April 14 and 15 to help taxpayers meet the filing deadline. To find the nearest H&R Block location with extended hours, call 1-800-HRBLOCK or visit www.hrblock.com.
About H&R Block
H&R Block Inc. (NYSE: HRB) is the world's preeminent tax services provider, having served more than 400 million clients since 1955 and generating annual revenues of $4 billion in fiscal year 2007. H&R Block provides income tax return preparation and related services and products via a nationwide network of approximately 13,000 company-owned and franchised offices and through TaxCut(R) online and software solutions. The company also provides business services through RSM McGladrey and certain consumer financial services. For more information visit our Online Press Center at www.hrblock.com.
SOURCE: H&R Block