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Tax-Time Errors That Should Be Averted

By Mia Vitug Subscribe to RSS | April 13th 2012 | Views:

24/7 Card is the newest Visa Prepaid Debit and Remit Card. With 24/7 Card, you'll get your tax refund faster than waiting for your long overdue checks. Moreover, 24/7 Card knows that the most crucial part in getting your tax return is the filing process that's why we want to guide you on several tax-time errors to avoid on filing your tax return.

1. Incorrect or missing Social Security numbers - This might be the deadliest mistake you can ever commit. If you want to double or triple check all the Social Security numbers in your form, do it! Better be safe than sorry. Be sure to enter them exactly as they appear on the Social Security cards.

2. Incorrect or misspelling of dependent's last name - Of all the fields to fill up, entering the dependent's last name might be the last thing you can be mistaken of. Make sure to enter it exactly as it appears on the Social Security card.

3. Incorrect filing of status situation - There are five filing statuses and some of the options require for you to do some explaining. The five are: Single, Married Filing Separately, Head of Household, and Qualifying Widow(er) With Dependent Child. See IRS Publication 501, Exemptions, Standard Deduction, and Filing Information to have a better understanding of which filing status best fits your situation.

4. Math or Computation errors - Take your time. This is one field of your file where you should make sure your math is correct. From the general addition and subtraction, double check all the computations and errors that could affect your tax return. Common computation errors are: Taxable Income, Withholding and Estimated Tax Payments, Earned Income Tax Credit, Standard Deduction for age 65 and older or blind, the Taxable Amount of Social Security benefits and the Child and Dependent Care Credit. You also have the option to file electronically and have the computer's software do all the math for you!

5. Incorrect bank account number for Direct Deposit - Always do a counter check on the bank account number and routing number. The routing number can also be filed on the bottom of your personal checks. You wouldn't want your money to end up anywhere else but in your account, right?

6. Forgetting to sign and date the return - If all fields above are correctly filed, but left with no signature, it will only indicate that the tax refund is invalid. For a joint return, keep in mind that both should sign to compete the filing.

7. Incorrect adjusted gross income - If you file electronically, you must sign the return electronically using a Personal Identification Number (PIN) to verify your identity. The software will prompt you to enter your Adjusted Gross Income (AGI) amount for the amended return. Without the correct number, the software will be unable to verify your identity and rendering it will be invalid.

For more information on how to purchase your own 24/7 Card, just visit today and apply for a debit card online to ensure a convenient and safe way to get you tax return.

Mia Vitug - About Author:
About 24/7 Card – Aside from quick tax refund transactions, the ultimate 24/7 Card can also be used to send money online and transact online money remittance.

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