5 Common Tax Errors That Could Delay Your Refund
Written by
Jennifer Taylor
Edited by
Jenna Klaverweiden
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Tax refunds can be a major cash influx. If you’re hoping to receive your check as soon as possible, properly filing your tax return is a must.
Taking a few extra minutes to ensure your tax return is flawless can help the IRS speed things up. Keep reading to learn five common tax errors that could delay your refund.
1. Not Filing Electronically
It takes up to 21 days to process an e-filed tax return — and up to six weeks for a paper return — according to the IRS. However, this isn’t the only reason to file electronically.
Filing electronically and having your refund deposited into a bank account can also lower your risk of fraud, said Joseph Perry, CPA, a national tax leader at CBIZ.
“Even government checks can be fraudulently cashed,” he said. If a paper check is lost or stolen, it will take even longer to get your money, he said.
2. Name Doesn’t Match Social Security Number
Failing to report a name change to the Social Security office and using the new name on your return will be an issue, Perry said. Your name and number must match what the government has on its records, he said.
This rule also applies to dependents. If you had a child during the taxable year, he advised double-checking the Social Security number on the return against the number on their Social Security card.
3. Calculation Mistakes
If your tax refund doesn’t add up, the IRS will have to adjust it, which can add extra time, said Lisa Greene-Lewis, CPA, tax expert at TurboTax.
“If the IRS determines that you have a calculation error, they will adjust your refund and send you an adjustment letter notifying you of the change,” she said.
4. Two People Claiming the Same Dependent
“When two people claim the same dependent and are trying to claim deductions and credits related to the dependent, only one person can claim them and receive the tax benefits,” Greene-Lewis said. “I always encourage parents who are not together to discuss who is going to claim their child, since only one person can claim them.”
One of the returns will be rejected if both parents file returns claiming the same dependent, she said.
5. Incorrectly Claiming a Deduction or Credit
“Claiming a credit or deduction that you may not be eligible for or one that requires more information from the IRS may delay your refund, since the IRS may require more information related to claiming the deduction or credit,” Greene-Lewis said.
When in doubt, double-check to make sure you qualify for tax credits or deductions you’re unsure about and/or provide all requested information.
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