Ways to avoid common mistakes when filing a tax return

Image:IRS
A 2020 Tax 1040 form is seen in a handout from the Internal Revenue Service.

Image: IRS A 2020 Tax 1040 form is seen in a handout from the Internal Revenue Service.

COLUMBIA, S.C. (WOLO)– Monday is the first day of tax season and SCDOR has some tips to avoid common mistakes when filing your 2024 Individual Income Tax returns.

SCDOR will begin processing returns February 3, to allow employers time to meet the January 31 W-2 submission deadline.

Tax return and refund processing is expected to take up to 8 weeks from February 3 or the date you file, whichever is later, so that all available tools can be used to check for fraud.

Also, South Carolina Department of Revenue says due to relief granted in the wake of Hurricane Helene , South Carolina returns are due May 1, 2025.

1. Using paper returns and doing the math yourself – According to the IRS, approximately 21% of paper returns have an error, compared to less than 1% of electronically-filed returns. Why? Because filing software does the math for you and features automatic checkpoints that ensure your return is complete.
   
2. Filing without your W-2 and 1099 forms – Wait to receive those forms before filing, and don’t be tempted to file using pay stubs. You need your W-2 and 1099 forms to accurately report your income.
   
3. Being careless as you enter information – Even electronic filing requires you to enter a significant amount of information, including income data, bank account numbers, driver’s license numbers, and your name, which should be spelled exactly as it’s printed on your social security card.
   Take your time, double check that you’ve entered accurate data, and don’t forget to sign your return. Any errors will delay processing and could cause your return to be flagged by the SCDOR’s fraud detection process.
   
4. Not updating your address – Using a new address that the SCDOR does not have yet may cause a delay in processing while we attempt to verify that information. Also, if the SCDOR needs to contact you about your return, we will mail you a notice to the address we have on file.
5. Entering your banking information when filing if you’re not able to pay your full balance – If you owe a balance after filing your return, your filing software will likely allow you to enter your banking information and select a payment date. If you enter your banking information, the SCDOR will debit your account on the payment date you choose. So if you want to enter into a payment plan, or pay using a different payment method, do not enter your banking information.