10 Common Tax Mistakes that Cost You Money [Infographic]

Posted January 23, 2013 in Taxation by

1040 Form tax filing errors

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With 2012 W-2 forms already at people’s home or in the mail, tax season has arrived.

The IRS annually pursues full-scale audits on only about one percent of individual tax returns, according to Kiplinger. However, USA Today reports in 2010 the IRS issued letters alerting 9.2 million individual taxpayers of errors or omissions in returns. And these filing errors can cost you big money in late-filing penalties and interest fees.

So, start collecting your documents now and remember to avoid these top 10 tax mistakes when filing your tax returns by April 15.

10 Common Income Tax Snafus – An infographic created by Olson Tax Consulting

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