Transposing Numbers
It’s almost certain that this is the no. 1 mistake filers make. Let’s say that your $1,500 in interest income was accidentally inputted as $5,100. Many people think that the IRS will be aware that you transposed it, but that’s not always the case!
“Your software doesn’t realize you transposed it. It’s just going to keep adding that wrong amount throughout all the process.”—Kay Bell, finance author
Usually, the IRS will catch your mistake as they double-check everything. However, if this error made you underpay your taxes, you can get a penalty or owe interest.
