Apr 2, 2008 5:01 pm US/Pacific
Top Ten Most Common Tax Mistakes
(CBS 5)
The state Franchise Tax Board has come out with a top ten list of the most common errors taxpayers make when filing their state returns.
It's not unusual for people to flub up on their tax returns. Last year, 618,000 Californians made mistakes on their state returns, delaying refund checks by weeks.
"My accountant made an error by not putting the wrong bank number in there, the router number, so he was off by one number," said Jerry Phillips, Livermore Postmaster.
That one wrong number delayed his tax refund by about a month.
Some of the most common errors include mathematical errors, claiming the wrong amount on your estimated tax payments, an incorrect refund amount transferred from the previous year, and wrong amounts selected from the tax table.
The FTB offers an online service to help people avoid making mistakes, review estimated tax payments, and other helpful tips.
Phillips said April 15th is one of the busiest days of the year at the post office, so he's come up with a tip of his own, "when you are rushing you're more likely to make mistakes...and why do you wait until the last minute anyway, especially when you're getting money back?"
The Franchise Tax Board strongly encourages e-filing, to avoid some of those common errors.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
Stumble It!
