Sunday, February 3, 2008
It's Tax Time and Common Mistakes in Filing Taxes
| Yes, its tax time. Tomorrow, Monday we will have our appointment. Last year we used HRBlock but they charged more than it supposed to so we will be using a private one this time. I was planning on filing myself separately but we were advised by the person that will do our taxes that we will get more money back if we will file jointly. The tax person will charge me from 30-45$ for myself only but since we will file jointly he will charge us more which is from 60-70$, it is not bad compared to HRBlock which was 142$ for last year. There are many that will do their taxes by themselves. I was planning that too, but I don't have enough knowledge about it .Last year , we were able to claim from our long distance telephone for the Telephone Excise Tax Refund, and that was only for last year , it was only a one-time payment for year 2006. We got about 50$ back from TETR cause I gather all our telephone bills and printed it online and handed it to HRBlock. But per IRS website updated announcement, if you did not request the refund on your 2006 tax return for your Telephone Excise Tax Refund, you can file an amended tax return for 2006, but you cannot request a refund of telephone excise taxes for 2007 tax return. I am planning on attending classes for tax preparation so I can do it by myself and can work part time too to any tax service center.But I don't have time as the moment. Anyway,Here are some common mistakes on filing taxes that we should be aware of.. 1. Making math blunders 2. Entering wrong ID numbers 3. Ignoring IRS material 4. Picking the wrong 1040 form 5. Omitting some forms 6. Overlooking unearned income 7. Using the wrong tax table 8. Fumbling payment procedures 9. Forgetting payment procedures 10. Missing the deadline |
