Basic Errors That Can Delay Your Tax Refund

Originally posted on CBS Minnesota:

By Ray Martin, CBS MoneyWatch

(CBSMoneyWatch) Millions of people are getting a jump on filing their tax returns now that they have received their W-2s and 1099 forms. And for most, the incentive to get moving is to get that tax refund in their bank account as soon as possible.

The average refund for filers last year was about $3,000. Last week, by contrast, I spoke to some people with average incomes who were $6,000 refunds! I’m not a fan of large tax refunds because they are typically the result of overpaying taxes. It’s a form of starving your cash flow all year long so that you can get a lump sum by filing some forms to prove its really your money. 

But if you typically get a refund, you’ll want to get your taxes prepared and filed as quickly as possible. So here are a few things…

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