Tax Mistakes to Avoid When Filing in Missouri or Illinois

It’s that time of year again! Whether you’re a DIY filer or you hand everything over to a professional, filing your 2026 taxes can feel overwhelming. This is especially for our members navigating different rules across the Missouri and Illinois state lines.

At Scott Credit Union, we want to ensure your hard-earned money stays where it belongs. While tax laws can change, many of the most expensive errors are actually the simplest to avoid.

What are the most common tax mistakes to avoid?

The most common tax mistakes include math errors, misspelled names, and forgetting to report all sources of income. Other frequent errors include choosing the wrong filing status or failing to sign and date your forms. Double-checking these basics is the fastest way to ensure your return is accepted.

• Math Mishaps: Even with tax software, a single manual entry error can throw off your entire return. Triple-check your totals!
• Identity Details: Ensure your name and Social Security Number match your Social Security card exactly. Typos or mismatched legal names from recent marriages are leading causes of rejected returns.
• “Side” Income: Don’t forget to report freelance work or interest earned on your Scott Credit Union accounts. If you received a 1099-INT, it needs to be included.
• Missing Signatures: If mailing your forms, an unsigned return is an invalid one. For online filing, ensure your digital PIN is properly submitted.

How do tax mistakes impact your refund or payments?

Tax mistakes can significantly delay your refund, often turning a few weeks of waiting into several months due to manual reviews. Additionally, errors can lead to IRS penalties or state-level interest charges if they result in an underpayment of taxes owed.

Accuracy is your best friend during tax season. Beyond just delays, filing incorrectly can mean missing out on 2026 credits that could be growing in your Scott Credit Union savings account.

What should you do if you make a mistake when filing?

If you realize you made an error after submitting your taxes, you should file an amended return, typically Form 1040-X for federal and the corresponding state form. It is generally recommended to wait until your original return has been processed before sending in the correction.

If the mistake means you owe a balance, Scott Credit Union members can use our secure online bill pay to settle the amount quickly and stop the clock on potential interest.

Tips for Filing in Missouri and Illinois

While we aren’t tax advisors, we always recommend that our members in the Metro East and St. Louis area stay updated on the latest state-specific rules. Tax laws for Missouri tax filing and Illinois tax filing can change annually.

• Check Official Sites: Always visit the Missouri Department of Revenue or Illinois Department of Revenue for the most current 2026 forms and credits.
• File Electronically: E-filing is significantly faster and more secure than paper filing.
• Direct Deposit: Choose to have your refund deposited directly into your Scott Credit Union checking account to get your money as quickly as possible.

Take Control of Your Tax Season

Tax season doesn’t have to be a headache. By staying organized and double-checking the basics, you can avoid the most common tax mistakes to avoid and enjoy a stress-free spring.

At Scott Credit Union, we’re here to help you reach your financial goals all year long. Explore our savings account options or find a branch near you today!