Tax Day is just around the corner. Therefore, it’s a good time to think about the mistakes that tax experts say we make in filing our taxes. Since 2009, United Way has helped some 1.45M people across the U.S. save $290M in filing fees. Additionally, they help people get more than $2.1B in refunds through My Free Taxes.
My Free Taxes is the largest free, online tax filing product offered by a nonprofit. It lets U.S. tax filers who earned less than $84K last year file their federal and state taxes online for free. The secure software walks you through the filing process. It screens for common tax deductions and credits you may be eligible for. In 2024, My Free Taxes helped people get $18.9M back in Earned Income Tax Credits, and $10.5M back in Child Tax Credits.
Tips to Avoid Mistakes
Tax experts offer the following tips to minimize mistakes and to maximize your refund this tax season.
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Choose Carefully
One of the most common mistakes taxpayers make is selecting the wrong filing status. This can affect the credits and deductions you’re eligible for. It can also affect the value of your standard deduction and even your tax bracket. When life gets complicated, taxes get more complicated, too.
For example, if a taxpayer with children is getting divorced, they may not be sure if they should file as “married filing jointly” or “married filing separately”. In some cases they might qualify to file as head of household. MyFreeTaxes can help answer those questions. Use My Free Taxes’ Help Line to talk to a real person trained by the IRS.
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Check Yourself
Always double-check the basics on your tax returns and make sure your name and the names of your spouse and/or dependents and Social Security numbers are right. Double check information you’ve pulled from your W-2. A common mistake is transposing numbers or entering numbers in the wrong fields are common errors. -
Find What You’ve Got Coming
Nearly 5M American taxpayers leave an average of $3,000 each on the table each year by failing to claim common deductions and exemptions. My Free Taxes automatically screens for credit and deduction eligibility. Some of these credits include the Earned Income Tax Credit (EITC) and the Child Tax Credit. In 2024, My Free Taxes helped people get $18.9M back in EITC, and $10.5M back in Child Tax Credits.
Nearly 20% of eligible people don’t claim the EITC. Depending on income and number of kids, this could mean leaving up to $7,000 on the table. You may think you can’t get the EITC if you don’t earn enough money to file a return. Wrong. The EITC is a refundable credit, so even if you don’t owe taxes, you can still get the EITC. Check it out on MyFreeTaxes.com!
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School Yourself
Education credits are another often-overlooked benefit. A student may be able to use the American Opportunity Credit of up to $2,500 or the Lifetime Learning Credit of up to $2,000. This is dependent on the academic program, year the student is in, income and other restrictions. Know that My Free Taxes software screens for that automatically as it guides you through your returns.
Using My Free Taxes helps you avoid all four of these mistakes. Best of all, you can do it in about one hour, on your phone, tablet, or laptop – and save tax prep fees. Go to MyFreeTaxes.com to get started today.
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