Being an experienced taxpayer doesn’t necessarily mean that you already know a lot about filing taxes and the rules and procedures applicable to your specific circumstance such as tax return. Because the tax code undergoes revisions and updates almost yearly and there are specific codes for nearly every individual situation, it’s nearly impossible to be totally updated with all these changes.
You shouldn’t necessarily want a fat tax refund
On top of this, knowing that what you think is true is not anymore true or that it was never true in the first place can be both painful and stressful. Because of this, many blindly follow some tax myths and continue to file their tax returns without realizing that they are already throwing away money.
The worst part is that they run into serious IRS tax return problems as a result of not being properly informed.
Tax credits are more valuable than tax deductions
It is a common assumption for people to automatically file for a joint tax return …