Computation errors, misspelling of names, incorrect direct deposit information, filing status errors and forgetting to write Social Security numbers are some common mistakes people should avoid when filling out tax forms, states Bankrate. Neglecting charitable contributions, failing to sign the forms and missing the deadline are some of the others.
Mathematical and computational errors can reduce a taxpayer's refund amount or increase the tax owed, notes Bankrate. Filing tax returns with a tax software program can reduce the numerical errors but does not exclude data entry errors such as entering $3,500 instead of $5,300. Calculating credits, special deductions, earned income credit and larger standard deductions for the blind can lead to errors due to the additional worksheets or forms required before transferring the amounts to Form 1040.
When the name of the taxpayer, spouse or a child does not match the one the Social Security Administration has on record for the tax identification number, it can cause a delay in processing the tax return, reports Bankrate. This is particularly important for people who change names after marriage. Taxpayers should be very careful in filling out direct deposit information because the IRS does not provide a procedure for replacing electronically transferred funds deposited into somebody else's account by mistake.