7. Social Security number oversights
Because the IRS stopped putting taxpayer Social Security numbers on tax package labels in response to privacy concerns, some taxpayers forget to write in their identification numbers. Your tax ID number is crucial because there are so many transactions – income statements, savings account interest, retirement plan contributions – keyed to this number. The nine-digit sequence also is vital to claim several tax credits, such as the Child Tax and Additional Child Tax credits and ones for educational expenses and dependent care costs. Without the numbers, or with wrong ones, the IRS will disallow these tax breaks.