• Home
  • Mobile Banking
  • Personal
    • Certificates
    • Checking
    • Savings
    • Additional Services
    • Credit, Debit, ATM Cards
    • Loans
    • Switch Kit
    • Online Account Opening
  • Business
    • Cash Management
    • Business Checking
    • Loans
  • Mortgage
  • Agriculture
    • Real Estate Banking
    • Loans
  • About Us
    • Giving Back
    • Locations & Hours
    • Careers
    • Contact
  • Local Events
  • Home
  • Privacy Policy
  • Contact Us
  • Blog
  • Site Map
Citizens First Bank Logo Log In Click for contact info
Open an AccountOpen an AccountClick for Mobile bankingMobile Banking Click for online banking Online Banking Click for contact info Contact Us
Citizens First Bank Logo
  • Personal
    • Certificates
    • Checking
    • Savings
    • Additional Services
    • Credit, Debit, ATM Cards
    • Loans
    • Switch Kit
    • Online Account Opening
  • Business
    • Cash Management
    • Business Checking
    • Loans
  • Mortgage
  • Agriculture
    • Real Estate Banking
    • Loans
  • About Us
    • Giving Back
    • Locations & Hours
    • Careers
    • Contact
  • Local Events
Citizens First Bank Logo

You are now leaving Citizens First Bank's website and are going to a website that is not operated by the bank. We are not responsible for the content or availability of linked sites.

Citizens First Bank offers links to other third party websites that may be of interest to our website visitors. The links provided in our website are provided solely for your convenience and may assist you in locating other useful information on the internet. When you click on these links you will leave the Citizens First Bank website and will be redirected to another site.

These sites are not under the control of Citizens First Bank. Citizens First Bank is not responsible for the content of linked third party websites. We are not an agent for these third parties nor do we endorse or guarantee their products. We make no representation or warranty regarding the accuracy of the information contained in the linked sites. We suggest that you always verify the information obtained from linked websites before acting upon this information. Also, please be aware that the security and privacy policies on these sites may be different than Citizens First Bank policies, so please read third party privacy and security policies closely. If you have any questions or concerns about the products and services offered on linked third party websites, please contact the third party directly.

Proceed
Home Blog 6 Mistakes to Avoid when Filing your Taxes
Single Post Featured Image

March 7, 2022

6 Mistakes to Avoid when Filing your Taxes

Avoid common mistakes on your taxes this year by being informed.

As tax season gets closer, streamline your plan to file taxes to avoid these common mistakes. By knowing what you should look out for, you can focus on submitting your return in record time.

Not paying required estimated taxes

Basic math errors are very widespread on tax returns, but thankfully you will not be penalized for these mistakes, and you will simply receive a notice and an adjusted refund amount from the IRS. However, for a speedier process, you can use software such as TurboTax, IRS Free File, or Credit Karma to calculate your data more efficiently.

Selecting the wrong filing status

When filing your tax return, choosing the correct status is very important since it will impact your tax credits and deductions, the tax bracket you qualify for, and—most importantly—the taxes you pay overall. The filing statuses include single, head of household, married filing jointly, married filing separately, and qualifying widower. Compare among these options to decide which status is most beneficial to you and remember that you may qualify for more than one status.

Being unaware of tax deductions

Don’t miss out on your eligibility for tax credits and deductions that will help increase the overall return if applied. This can lead you to miss out on credits for dependents or other big payments. To ensure the highest possible return, use an online service or tax professional to guide you through the process, you are not alone!

Rushing the process

The promise of filing early has the incentive of receiving an early refund but avoid doing this if it leads to mistakes from being unprepared. If you rush through the process without all the paperwork you need, you may have to fix your mistakes later on.

Submitting the wrong account information

Another common mistake to avoid is entering the wrong routing or account number from your bank. If you submit the wrong routing or account number, you may not receive a direct deposit or you may receive the refund of another person. For help confirming your bank information, contact Citizens First Bank for assistance.

Forgetful filing errors

The most widespread mistakes when it comes to filing are due to doing the process on paper. The disadvantages of paper filing include errors like forgetting to sign and date, improperly mailing forms, sending your return to the wrong address, forgetting to include forms, and more. Avoid these issues easily by filing through an online service.

Facebook0
Other posts you may like

6 Ways to Save on Date Night

A memorable and fun date night doesn’t need to break the bank! Whether you’re getting to know a new potential match, or are in an established relationship, dates play an important role in making connections. While an elaborate night out can be an exciting occasion, there are many other date night options that won’t break […]

Other posts you may like

How to Protect Yourself from Fraud

Follow these steps to avoid and prevent financial fraud. Discovering fraudulent activity on your account can be a frustrating experience. While you can’t always stop fraud from occurring, there are steps you can take to minimize it. Here are some helpful tips to help protect yourself from financial fraud: Stay alert while online. When you’re […]

Recent Article


6 Ways to Save on Date Night

February 1, 2023

Recent Article Featured Image

You May Also Like


How to Protect Yourself from Fraud

January 25, 2023

Will Your Retirement Savings Be Enough?

January 18, 2023

5 Common Investing Mistakes to Avoid

January 11, 2023

3 New Year’s Money Resolutions

January 4, 2023

  • Home
  • Privacy Policy
  • Contact Us
  • Blog
  • Site Map

©2023 Citizens First Bank. Equal Opportunity Employer. Member FDIC. Equal Housing Lender.

FDIC logo