These are the three most commonly missed tax deductions, according to TurboTax

ORLANDO, Fla. — Bethel Adekogbe said he procrastinates with filing his taxes most years. He just got it done a couple of days ago, a little more than a week before the Apr. 18 deadline.

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“When [time] gets tight, I’m [tell myself] to remember, I’ve got to do it, I’ve got to do it,” Adekogbe said. “It’s not super-hard when all the paperwork is there, but to remember to do it and prioritize it is tough.”

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The IRS is anticipating more than 168 million individual tax returns will be filed in 2023, the vast majority coming before the Apr. 18 deadline. As of Mar. 31, a little more than 90 million Americans filed their taxes, according to the most recent IRS data.

If you’re one of the millions of last-minute filers, Lisa Greene-Lewis with TurboTax has the three most commonly missed tax deductions so you can get the most out of your return.

THE SAVER’S CREDIT

The Saver’s Credit, or the Retirement Savings Contribution Credit, is a tax credit of up to $1,000 for single filers and up to $2,000 for married couples filing jointly. It’s a credit for investing in retirement plans like 401ks and Roth IRAs.

“It’s kind of just a little, unknown credit you get just for investing in your retirement,” Greene-Lewis said.

EARNED INCOME TAX CREDIT

The Earned Income Tax Credit can increase your tax return by up to $6,935 for a family with three kids. According to the IRS, 1 out of 5 people miss this credit and the Saver’s Credit, Greene-Lewis said.

“Some people do miss that one. That’s a huge credit,” she said.

HOME LOAN DEDUCTIONS

Home Mortgage Points are also commonly forgotten, Greene-Lewis said. If you pay points or loan origination fees on a home loan, you can deduct the points over the life of the loan. If you refinance your loan, you can deduct any points left on your previous loan.

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“A lot of people do forget about this one. They know about home mortgage interest but points paid to secure your loan, that’s a type of mortgage interest,” Greene-Lewis said. “Sometimes people already have a refinance and they’ve been taking that deduction every year for the points and then they refinance again. If they have anything left over, they can take that in a lump sum from the previous loan.”

This is a developing story. Check back for updates as more information becomes available.

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