It’s always important to double-check your work before filing your income tax form. This year, it’s critical to get everything right.
“Because the IRS is so incredibly backlogged – they are still dealing with returns from last year –you don’t want to make any mistakes,” said Liz Weston, a personal finance columnist at NerdWallet. “The slightest error can hang up your return, and add months to the processing time to get back your refund.”
If you file electronically, the software should catch math errors and other common mistakes people make.
“Also, if you opt for direct deposit of your tax refund, that will really speed things up,” Weston said. “You don’t want to file a paper return and you don’t want to ask for a paper check. Just go all digital.”
Remember, if you received a preliminary 1099-B form from your brokerage firm in mid-February, wait until you get the corrected form. That’s what your broker sends to the IRS. The numbers may be different from the preliminary form.
If you filed using information on the preliminary form and the final numbers change, you’ll have to file an amended return. That will definitely slow things down.
More Info: How to keep your tax return from getting hung up