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5 Most Costly Taxpayer Mistakes

"The IRS is intimidating to anyone, but you can't ignore them," says Byrd.

Fortunately, Byrd says his experience has been that most IRS workers are reasonable and willing to work with taxpayers. For those who owe taxes, installment agreements are available and penalties can even be reduced.

However, to avoid making more mistakes, Byrd counsels taxpayers to find competent advice and representation when working with the IRS.

"Most taxpayers give the IRS too much information and too much ammunition," he notes.

It is almost a given that tax season can be time consuming and stressful, but that doesn't mean it has to be more expensive than necessary. Avoid these mistakes and help keep more of your money out of the government's pocket.

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