Double-and triple-check your return before submitting
This isn’t as much of a money-saver as it is a way to prevent future headaches (and possibly avoid penalties). Electronic filing has greatly reduced the number of errors on tax returns, but they still happen.
For example, if you’re claiming a $2,500 mortgage interest deduction, it’s easy enough to accidentally type an extra zero. Or, it’s rather common to incorrectly enter the Social Security number of a dependent, which can be a pretty quick way to set off red flags at the IRS.
And perhaps most importantly, be sure you enter your bank account information correctly if you’re having your refund directly deposited. If your refund is accidentally deposited into someone else’s bank account, the IRS will not intervene on your behalf, and you can find yourself in an uphill battle to try and recover your money.
