The rules of filing your yearly income taxes can be confusing. However, did you realize that many Overland Park tax preparation errors are easy to prevent? You might be surprised at some of the most common mistakes that the IRS finds every year.
Here is a list of things that our team of Louisburg-based Overland Park tax accountants recommend you double–check before you file your taxes in 2021.
- Make Sure All Personal Information is Accurate
- Check Your Math
- Make Sure You Save a Copy of Your Return
- Filing Status
- Submit Your Returns on Time
Make Sure All Personal Information is Accurate
Keying or writing in your contact information correctly is common sense to most people, but you would be surprised at how many tax returns are delayed due to incorrect information. Our Pro 31 Overland Park tax preparation experts (based in Louisburg) recommend double-checking your legal name, address, phone number, and social security number before filing your income taxes.
Check Your Math
If you do your taxes by hand, you know that there is a lot of math involved. The process involves adding numbers together from different boxes, then multiplying by another number, then adding more numbers; so, it can be a bit overwhelming. Using a calculator can help but be sure to look for mistakes when you are done.
If the process seems too confusing and you want the best chance at 100% accuracy, we recommend hiring a professional tax accountant in Overland Park, like Pro 31 Tax and Accounting. Our Pro 31 office is based in Louisburg, but our team has been assisting with Overland Park tax returns for years.
Make Sure You Save a Copy of Your Return
Did you know the IRS can legally audit you for up to three years after filing your taxes? You should always be prepared for an audit; this is why Overland Park tax accountants recommend saving copies of all tax return documentation for at least three years.
There are different tax rates and deductions depending on your filing status. Whether you are single, married, married but filing separately, head of household, or a qualifying widow(er), make sure you choose the correct option. Choosing the correct filing status is one of the first steps of tax preparation in Overland Park.
Submit Your Returns on Time
The typical deadline to submit your taxes every year is April 15th. However, the deadline to file your 2019 income taxes was extended to July 15th, 2020, to account for delays caused by Covid-19. Once you have your W2s and all the necessary paperwork to file, tax accountants in Overland Park recommend being proactive by submitting your taxes early. Stay current on the tax filing deadline for your 2020 income taxes, which as of now is April 15th, 2021.
If you need help with Overland Park tax preparation, contact the experts at Pro 31 Tax and Accounting. Our team will ensure that your return is filed accurately so that you can get the maximum refund possible. Give our Louisburg office a call today (913) 837-3131; we look forward to assisting you!