Sponsor spotlight Tax return information thats easy to miss

Tax returns frequently face delays due to common oversights that taxpayers should address before filing. Missing forms, such as W-2s and 1099s, must be verified against last year's return to prevent IRS audits. Those adding dependents need to provide accurate names, Social Security numbers, and birth dates, while custody conflicts can impede the filing process. It's vital to have precise cost basis information for any sold assets to report capital gains or losses accurately. Taxpayers must also pay close attention to Schedule K-1s and digital asset transactions to ensure all necessary details are included.

Forms received without explanations can lead to misinterpretations, making clarity essential. Lastly, both spouses must review and sign e-file approval forms to finalize the return. Addressing these issues can lead to a smoother tax filing experience.