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Tax Tips for Procrastinators: The Top 8 Last-Minute Filing Blunders

Taxes are due - filing tipsHaste makes waste: It's an adage that best describes the fate that often befalls last-minute taxpayers, who, in a mad dash to meet the IRS deadline, make filing flubs that result in smaller refund checks or shelling out more to the government than they owe.

If you're among those last-minute filers, first, take a breath. Then take note of eight common filing mistakes to avoid.


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TurboTax Articles

Video: Who Qualifies for an Affordable Care Act Exemption (Obamacare)?

The Affordable Care Act requires all Americans to have health insurance or pay a tax penalty. But, who qualifies for an Affordable Care Act exemption? Find out more about who qualifies for an exemption from the Affordable Care Act tax penalty, how to claim an exemption on your tax return and how the Affordable Care Act may affect your taxes with this video from TurboTax.

Video: How to Claim the Affordable Care Act Premium Tax Credit (Obamacare)

The Affordable Care Act Premium Tax Credit is a new refundable tax credit that can lower your monthly health insurance premiums. If you qualify for the tax credit, you can claim the Premium Tax Credit throughout the year to lower your monthly health insurance premiums, or claim the credit with your tax return to either lower your overall tax bill or increase your tax refund.

Deducting Summer Camps and Daycare with the Child and Dependent Care Credit

If you paid a daycare center, babysitter, summer camp, or other care provider to care for a qualifying child under age 13 or a disabled dependent of any age, you may qualify for a tax credit of up to up to 35 percent of qualifying expenses of $3,000 for one child or dependent, or up to $6,000 for two or more children or dependents.

What Is Schedule H: Household Employment Taxes

If you hire people to do work around your house on a regular basis, they might be considered household employees. Being an employer comes with some responsibilities for paying and reporting employment taxes, which includes filing a Schedule H with your federal tax return. But even if you have household employees, filing Schedule H is required only if the total wages you pay them is more than certain threshold amounts specified by federal tax law.

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sr1moments

What's the difference between head of household & claiming a child as a dependent who does not live w/you?

April 17 2012 at 1:29 AM Report abuse rate up rate down Reply
pam

Is aol going to find a new source for news. I heard they were giving the Ax to Huffington Post. Has anyone else heard that?

April 16 2012 at 11:23 PM Report abuse rate up rate down Reply
christia58

I WENT TO jACKSON hEWITT AT WALMART bIG mISTAKE COST ME $161.00 TO GET THEM FIGURED WILL NOT GO THER AGAIN.

April 16 2012 at 7:31 PM Report abuse rate up rate down Reply
burtonburtoncom

Obvious barrelman1 has not looked at the following Buffet link:
rule?source=em12_20120416_sc_act&utm_medium=email&utm_source=obama&utm_campaign=em12_20120416_sc_act&email

April 16 2012 at 6:25 PM Report abuse rate up rate down Reply
barrelman1

Don't worry if Obama gets re elected we are all done anyway!

April 16 2012 at 5:15 PM Report abuse rate up rate down Reply
neutralx

Struggling for stories are we, AOL? Let me sum up this article for anyone that hasn't read it yet: Don't make mistakes. There you go, now I'm qualified to write news for AOL / Yahoo / Huffpost!

April 16 2012 at 4:40 PM Report abuse rate up rate down Reply
sports

A vote for OB is a vote for NO B

April 16 2012 at 3:33 PM Report abuse rate up rate down Reply
msrelax1

We at Inland Valley Income tax would love to do your Taxes!!!!!!!!! call us we'd love to beat the dead line for you

Thank you ...951-684-1150

April 16 2012 at 3:11 PM Report abuse rate up rate down Reply
granmaww33

HI HONEY, THIS MUST BE ANNIE??
I LOVE YOU.

April 16 2012 at 2:24 PM Report abuse rate up rate down Reply
Rory

Understand, sometimes it is best in the long run to leave out a deduction or two. If you are middling folk, small business and can't afford to be lawyered up to the max, then leaving out a deduction or two out, when audited comes in handy, I have been audited and being able to come back with those additional deductions saves me time and headache when I have been audited. Not a crime to over pay, but it is a crime to underpay.
Just a thought!

April 16 2012 at 12:14 PM Report abuse rate up rate down Reply