Review these common causes of filing delays

Business Year-End Tax Planning to Avoid Common Missing Items When FilingDouble-check this list of common missing items that often cause delays when filing your tax return and receiving your much-anticipated refund.

Common missing items when filing

  • Missing W-2 or 1099. Using last year’s tax return, list W-2s and 1099s. Then use the list to ensure they are received and applied to your tax return. Remember, the IRS‘s matching program will catch missing items.
  • Missing or invalid Social Security number. E-filed tax returns will come to a screeching halt with a missing or invalid number.
  • No information for a common deduction. If you claim a deduction, you must provide support to document the claim.
  • Missing cost information for transactions. Brokers will send you a statement of sales transactions. The tax return cannot be filed if you do not provide your cost and purchase information.
  • Forms without explanation. If you receive a tax form but have no explanation for it, questions could arise. For instance, if you receive a retirement account distribution form, it may be deemed income. If it is part of a qualified rollover, no tax is due. An explanation is required to file your information correctly. If you prepare now, you can narrow your audit chances even further and rest easy after you’ve filed.

What else delays tax filing

  • Name mismatch. If you were recently married or divorced, ensure the last name on your tax return matches the one on file with the Social Security Administration.
  • Dependent already claimed. Your return cannot be filed if a conflict exists in this area.
  • Not reviewing your return and signing your e-file approval. The sooner you review and approve your tax return, the sooner it can be filed. Here are several reasons to consider filing your tax return early.

Hopefully, this list of common missing items will help you prepare for a smooth tax filing experience. Contact our RRBB advisors if you have any questions.


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