Filing your taxes early has several important benefits that you should consider before deciding to delay doing your taxes until early April.
First, if you are getting a refund, you will have it much sooner than if you wait. As more returns are filed, returns can take longer to be processed. Getting in line first is important plus you have relieved yourself of any stress of making sure you meet the deadline.
There has been a growing number of people who have had their identity stolen and false tax returns filed in their name. Getting yours done quickly helps protect you against this type of fraud. Another good reason to get your taxes done early is that if you need to make changes to your taxes, you have more time to make those changes than waiting until the last minute when more than 1/3 of the year might be over.
Even if you owe, completing and filing your taxes early is a good idea because you can delay payment until April 15th, which allows you to have more time to find the money if that is a concern. Also, even if your taxes are complicated, the sooner you start, the more time you have to get it right and avoid any mistakes. Being last minute and scrambling for information is often the reason that mistakes are made on tax returns. Sometimes information you need will take time to obtain and the sooner you start the more likely you can get the right information that you might need.
Don’t be afraid of your taxes, tackle them early and reap the benefits. And if you are getting a refund, you can enjoy the benefits of having the refund much sooner than if you wait until April 15th.
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