GREENSBORO, N.C. — We all make mistakes now and again, but the moment you want to avoid making mistakes is when you do your taxes. The IRS lists ways to prevent tax return mistakes and reduce processing delays and refund adjustments.
There are several common ways to avoid mistakes that you hear every year:
Make sure you have all your paperwork
Use electronic filing
Double-check names and Social Security numbers
Make sure the banking account and routing numbers are correct
Sign and date the return
However, one thing that may be new to you is your filing status and how many dependents you can claim.
My parents live with us. Can we claim them as dependents?
"They can claim them as dependents if they live with them for over half the year and they provide over half the support and if they're not getting anything but Social Security, the parents don't have to file at all," said Kevin Robinson of Robinson Tax & Accounting Services.
To be clear, if your parent or another relative lives with you for over half the year and you provide them with over half of their support, then yes, you can claim that family member as a dependent.
At what age do I stop filing a tax return?
The answer is there is no age limit. Taxes are income-based.
Tax Day is Monday, April 15, 2024.
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