11 Steps to Make Sure Your Tax Return Is Accepted by the IRS

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Everyone’s favorite time of year is right around the corner: Tax Day! Filing and paying taxes is a part of life for everyone who works in the U.S. Making sure you file your tax return correctly is crucial.

According to an official IRS press release, here’s how you can make sure your 2023 tax return is accepted this April.

11 Steps To Ensure a Smooth Tax Return Filing

1. Collect all tax-related documents: Always collect all key documents. This includes all W-2 and 1099 forms and supporting paperwork for tax deductions or credits such as educational credits or mortgage interest payments. In some cases, including a copy of your previous year’s tax return may also be required.
2. Ensure that names, birthdates and Social Security numbers are correct: Your full name, birth date, and Social Security number are necessary to file your tax return. This includes each dependent listed on your individual income tax return. If you’re ineligible to have a Social Security number, be sure to include your Individual Tax Identification Number (ITIN).
3. Ensure the address is correct if mailing physical paper returns: Electronic filing is strongly encouraged. However, if you must file a physical paper tax return, ensuring the address is correct will prevent any filing delays.
4. Ensure your filing status is correct: Be sure to choose the correct filing status. Tax software can help prevent filing status errors. You can also take advantage of the Interactive Tax Assistant on IRS.gov to help determine your correct filing status.
5. Use electronic filing: Filing your tax return online using either tax software or IRS Free File can help find deductions and tax credits you’re eligible for much more easily than filing by mail.
6. Don’t forget to sign and date the return: Completing your tax return but neglecting to sign and date the return before filing can result in delays in processing.
7. Answer all digital assets questions: Every taxpayer who files Forms 1040, 1040-SR, 1040-NR, 1041, 1065, 1120 and 1120S must check one box answering either “Yes” or “No” to the digital asset question. This is required whether or not you engaged in any digital asset transactions in 2023. All income from digital asset transactions must be reported.
8. Always report all taxable income: This should go without saying, but it’s crucial to report all sources of income. This includes all W-2 and 1099 income from work, interest payments, dividends, the sale of stocks or other assets, etc. In addition to all income that’s reported to the IRS by your employer or financial institution, it’s required that you also report any self-employed income to avoid an IRS audit. This can include income earned via payment on Venmo, Zelle, or PayPal.
9. Ensure that all bank account and routing numbers are correct: When filing your return, be sure that all bank account and routing numbers included are 100% accurate. Any errors will delay tax payments or tax refunds owed to you.
10. If needed, request an extension: If you need a bit more time to get your tax documents in order, you can easily request a six-month extension until October 15, 2024. This way, you’ll avoid late filing penalties. It’s important to note that this extension can be requested either through IRS Free File or by submitting Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return, by April 15. However, tax payments are due by April 15 even if you need more time to submit your return.
11. Always keep a copy of your tax return: It’s always important to maintain a copy of your tax return for your financial records. It’s best practice to retain copies of your tax return records with supporting income, deductions, or credits claimed until the period of limitations for that specific tax return expires.

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