Everyone knows that tax season has begun. There are those who rush to get their documents filed so they can get their returns as quickly as possible. Then, there are those who choose to wait taking their time to gather their papers, documents, receipts, etc. considering that the deadline isn’t until April 18, they tend to think they have plenty of time to get it done. But filing early may be best because you never know what unexpected things may arise to interfere with you filing your return at the last minute.
5 Reasons why Filing Early is Best
1- Faster Refunds
One of the best reasons, is that the earlier you file the quicker you’ll have that cash in your own bank. Filing electronically ensures the quickest refund possible. Of course at Cowdery Tax and Business Solutions we help you to find the maximum refund possible, we go through your documentation step-by-step to ensure nothing is missed. And we e-file your return for you.
2- This year’s Tax Refund Delay
Due to changes in the law concerning filing Earned Income Tax Credit or Child Tax Credit, all refunds claiming those credits will be delayed until at least February 15. So the earlier you file the faster your refund will be in queue.
3- Time to Prepare to Pay if you Owe Taxes
If you suspect that you will owe the IRS taxes. Then processing your return early gives you knowledge. That means you’ll have longer to pay what you owe, and you’ll know the exact amount. If you owe, you can file early, but are not required to pay the tax due, until mid-April. Filing your Form 1040 will offer you time to arrange your payment.
4-Prevent IRS Fraud
With identity theft, and tax fraud at an all-time high, filing your taxes early prevents someone else from falsely filing in your name.
5- Less Stress
If you file early and have that task marked off your to-do list you will not have to worry about missing deadlines. Plus, having that extra bit of refund money in the bank will lessen the stress that can come from overdue bills, or the need for car repairs.
Of course we are here to help you file your taxes on time, and just right. Call today to schedule your tax return appointment. 740•374•6947.