10 Tax Return Tips

In the rush to meet the April 15 deadline, you want to keep these 10 tax return tips in mind. Doing so will keep your refund from being delayed, and can prevent you from having to pay penalties if you owe taxes and are delayed in remitting payment because your return had errors.

1. Start collecting receipts and other necessary tax materials at the first of January. That way, you will have everything together in one place when it comes time to file your return.

2. Have your return prepared as soon as all W-2s, 1099s, and other tax reporting forms have been received. This will prevent the possibility of paperwork loss that could occur if you waited too long.

3. If you are preparing your own tax return, double-check your math as you go along. Make sure each calculation is correct before proceeding to the next set of figures. This might be considered one of the more important tax return tips since each year, the IRS reports that incorrect mathematical calculations are the number one cause for errors in tax returns.

4. Make sure all identifying information, such as names, your mailing address, and all listed social security numbers, is correct. This is another one of those tax return tips that should be remembered, as the IRS also reports that errors such as these are quite common.

5. Make sure you have taken every deduction you are legally entitled to. It will be very hard, if not impossible, to report a deduction once the return has been completed and mailed off.

6. Take advantage of the services offered by a skilled tax preparer. He or she had to attend training courses dealing specifically with tax laws and changes for 2010 tax returns before they could start preparing returns. If your return is especially complicated, you may definitely want to consider this one of the ten tax return tips listed.

7. If using one of the many available online tax filing programs, make sure all information is entered correctly on the forms. Check for transposed numbers, entries made on wrong lines, and other errors.

8. Make your own copies if you are preparing returns before you mail them.

9. This is definitely one of the ten tax return tips you should consider. Send your completed tax returns by certified mail--return receipt requested. This will make it easier to track your documents if IRS says they were never received.
10. And, the last, but certainly not the least, of the ten tax return tips: Have your taxes prepared well in advance of April 15 if at all possible. You don’t have to mail them until April 15, but it is best to have them ready to mail before that date.