In the last frantic hours before filing your 2012 taxes, don’t get so frazzled that you forget about the deductions most frequently missed by taxpayers. It could mean more money in your pocket.
It’s easy to get wrapped up in the last minute rush to file, say tax experts at the Massachusetts Society of Certified Public Accountants (MSCPA). Before filing your return, review it carefully. According to the IRS, the most common errors are:
1. Incorrect or missing social security numbers
2. Incorrect tax entered based on taxable income and filing status
3. Math errors
4. Missing or incorrect identification numbers for child care providers
5. Withholding and estimated tax payments entered on the wrong line
To avoid these errors and to minimize your tax burden, ask a Certified Public Accountant. To find a CPA in your area, contact the MSCPA at (617) 556-4000 or visit www.mscpaonline.org/findcpa.