To paraphrase Benjamin Franklin, “…nothing can be said to be certain, except death and taxes.” Well, if you have not filed already, this weekend is the last weekend to file so stop trying to postpone the inevitable.
The April 15 deadline this Tuesday leaves about four days to finally submit those forms.
If you’re among those rushing this weekend to get your taxes done, be careful of common mistakes made on tax forms.
Those common mistakes included: forgetting to sign your name & date, giving the wrong Social Security number, miscalculating income and lastly, making sure to report ALL income. Even if you did not receive a W-2 for something such as freelance work, tax experts say you still have to report it.
Other common mistakes include misspelling your name or making the wrong claim. Some errors could have you owing the IRS even more money in penalties.
There are some ways to help you save money.
A few commonly overlooked tax deductions include charitable contributions. That doesn't just apply to cash. If you donated property such as furniture and clothing, that also counts as a charitable contribution. Another is job hunting. If you searched for a job you can write off job search costs. One more important tip, check to see if you are eligible to receive the Earned Income Tax Credit. It helps people with moderate and lower incomes and can be worth up to around $6,000.
A tool to help you find out if you qualify for the Earned Income Tax Credit can be found here .