Nobody sets out at tax time to figure out how to pay more money to the IRS. But careless mistakes can leave many people doing just that, thanks to the penalties the IRS imposes. According to tax experts, some IRS penalties are for very common mistakes. Those mistakes are avoidable through awareness of and strict adherence to the tax rules, including deadlines.
"Forgetting to sign a tax return is the most common mistake taxpayers make. The IRS won’t accept your tax return if it is not signed, and that is just the same as not filing it at all."
- Wray Rives, Coppell, Texas-based certified public accountant