In a world where everyone including Einstein is scared of taxes, you need to be equipped with special knowledge and skills to fight against them. The issue about taxes is that they objectively exist in our everyday world, and in most cases it’s impossible to confront them. This is why we decided to help you with the process of handling taxes and to show you the most common mistakes in this field.
What is more, we will show you uncommon and exceptional ways of avoiding paying taxes! If you want to know more about us, our services and tax exemptions just contact us by the provided number or leave us a message!
Math is Exactly Like Rocket Science!
Remember those school days when you were avoiding doing math homework? Remember those days when teachers were telling you math is important? Well, the time has come! You can finally use everything that you have learnt in school in order to deal with taxes.
However, some people simply forget about the importance of math and calculations, or they are not paying proper attention to it. This is why math mistakes are one of the most popular mistakes that we face while working with our clients.
Even the IRS says that mistakes in calculation happen often and often! Here’s what it says: “math errors are one of the most common mistakes. They range from simple addition and subtraction to more complex calculations. Taxpayers should always double check their math. Better yet, tax prep software does it automatically.”
Incorrect Filing Status Brings No Joy!
IRS says that “some taxpayers choose the wrong filing status.” This is also a very common mistake, especially when people are trying to do their best to meet the requirements and different conditions. If you were also trying to do everything perfectly, and somehow chose the wrong filing status, know that you’re not alone!
Remember, if you feel lost and don’t know what a filing status is, you can always check it on the website of the IRS. However, to simplify your life, this is its definition:
“Your filing status is used to determine your filing requirements, standard deduction, eligibility for certain credits, and your correct tax.”
Filing with an Expired ITIN
First of all, what do you know about ITIN? This odd combination of letters is short for Individual Taxpayer Identification Number. The idea of getting an ITIN was initiated by the IRS with the intention of simplifying the lives of those who are not eligible for an SSN. This is a 9-digit tax processing number, which as we said, is for any individual who is not eligible to get a Social Security number, but is required to have a U.S. taxpayer identification number.
According to the Internal Revenue Service, taxpayers can file using the expired number. In this situation, the IRS will process that return and treat it as a return filed on time. But there’s something you need to know about expired ITINs! Internal Revenue Service will never allow any exemptions or credits to a return filed with an expired ITIN. If you’re in such a situation, you will receive a notice notifying you about the renewal of the number. According to the IRS, “once the taxpayer renews the ITIN, the IRS will process return normally.”
By the way, if you’re looking for a reliable company that will help you with ITIN acquisition, you know who to trust! Contact us and get your ITIN without any problem and unnecessary complications!
Misspelled Names: When Taxes Make You Forget Yourself…
Well, even though it doesn’t look serious, it’s true – people misspell their names! This is an issue which was raised even by the IRS, because you know, even the Internal Revenue Service is tired of these “minor” errors. Each time you misspell your name, you automatically make your life ten times more complicated because everything that you did up to that moment, you will have to do that again! As the IRS says, “a name listed on a tax return should match the name on that person’s Social Security card.”
Long story short, mistakes happen everywhere, especially in the tax world! So don’t worry about mistakes and errors that you made, they are quite normal for a person who is not specialized in this field! Instead, you can contact tax professionals like Prestige Auditors and in the blink of an eye turn into an Amazon tax exempt or Walmart tax exempt seller! What’s more, together with us you will know how to open up a business, which business entity to choose, and how eCommerce taxation works! So contact us and forget about all the tax-related worries, we will help you with them!