DOUBLE CHECK YOUR RETURN BEFORE SUBMITTING IT TO AVOID DELAYS

 

Here are s few things to double-check before submitting your tax returns (electronic or paper) to avoid delays and errors –

 

1) There has been a new question on Page 1 of the federal Form 1040 (and Form 1040-SR) the past few years.  It is under the name and address and before the Standard Deduction, Age and Blindness questions and list of Dependents.  It reads - “At any time during 2021, did you receive, sell, exchange, or otherwise dispose of any financial interest in any virtual currency?”  Be sure to check this box.  I expect for most taxpayers the answer is “no”.

 

2) Obviously double-check all math on the return – and all the carryforward of numbers to other lines, schedules and forms.  Beware of transpositions.

 

3) Double-check all the name and Social Security number entries on all pages.  The name and Social Security number must match exactly the records of the Social Security Administration – the name must appear as it does on your current Social Security card.

4) Double-check the bank routing and account numbers you enter when requesting direct deposit (and, considering how FU-ed the IRS is, you should request direct deposit). 

5) Don’t forget to attach COPY B of all W-2s and all 1099s that indicate tax withheld.

6) And, if filing a paper return be sure to sign it – both spouses if a joint return.

TTFN