I’m a Tax Preparer: No. 1 Filing Mistake I See That Wipes Out Refunds

According to the IRS, the mean refund for American taxpayers successful 2025 was $3,052 and the IRS opened the taxation filing play connected Jan. 26. The bully quality is that this fig is expected to summation by 15% to 20% connected mean successful 2026, arsenic reported by CNBC. If you’re waiting for your taxation refund to marque immoderate fiscal moves, you privation to guarantee that you don’t marque immoderate mistakes that could outgo you thousands of dollars.

GOBankingRates consulted a taxation accountant to larn astir the filing mistake that could outgo radical their refunds and trim their 2026 refunds. Find retired beneath what it is and however to debar this mistake.

“One mistake I spot clip and clip again is radical getting impatient and filing earlier each their documents person arrived,” said Lawron Ballard, certified nationalist accountant (CPA) and laminitis of Hill Town Advisors. “Everyone knows to expect a W-2 from work, but what astir the 1099-INT from your savings relationship oregon the connection from your brokerage?”

She noted that these documents are casual to place and they don’t ever get astatine the aforesaid time. While you’re apt excited astir the imaginable of receiving a larger refund this year, you don’t privation to wounded your chances of a punctual payment.

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The biggest contented with rushing to record earlier you’ve confirmed everything is that it tin hold your refund. Ballard said this is adjacent much achy successful 2026, fixed the IRS processing backlogs we’re seeing close now. If your refund gets delayed, you won’t person entree to the funds, which could wounded your finances, particularly if you were relying connected this wealth to get by. If you were relying connected these funds, you could beryllium forced to usage recognition cards oregon to instrumentality a short-term loan. Either way, the hold could worsen your fiscal situation.

In the worst-case scenario, you tin trigger an IRS accommodation wherever you extremity up owing wealth you weren’t expecting. In this case, you spell from expecting to person thousands of dollars to being stuck trying to fig retired however you’re going to marque your taxation payments.

Ballard advised that earlier you deed submit, comparison what you filed past twelvemonth to what you’ve received this year. If something’s missing, hold for it to get earlier filing your taxes. You’re amended disconnected waiting a fewer much weeks for each of your documents to get truthful that you don’t get stuck dealing with a delay. If you’re successful a hurry to effort to record your taxes, you tin besides log successful to your assorted concern accounts to spot if the taxation documents are disposable to beryllium printed.