Thursday, March 29, 2007

10 Tax Blunders That Can Cost You

10 tax blunders that can cost you

Plenty of Americans bungle their return every year and pay extra in penalties as a result. Here's how you avoid making those same mistakes.

By David Ellis, CNNMoney.com staff writer
March 29 2007: 1:09 PM EDT

NEW YORK (CNNMoney.com) -- It's virtually guaranteed to happen every year - the IRS gets a slew of tax returns loaded with errors.

These mistakes can range from the petty - failing to sign your tax return - to pretty substantial, like neglecting to report all the income you earned over the past year.

Whether intentional or not, these tax goofs can delay your refund or end up leaving you on the hook with a bigger-than-anticipated tax bill or additional penalties.

Read the rest here.

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