2. Omitting form for nonitemizers
Over the last few years, tax law changes have provided filers who don't itemize more opportunities to reduce their tax bills. This includes homebuyers who can write off some of their property tax payments and purchasers of new vehicles who can deduct the auto's sales tax.
These extra amounts are added to the taxpayer's standard deduction amount. But this year, in order to claim these additional deductions you'll have to fill out the new Schedule L. Since the IRS depends on you to provide the correct information here, it can't cover you for as it might with the Schedule M. So be sure to include Schedule L or your added standard deduction amount might be disallowed, and that will definitely cost you some tax dollars.