Take it from us; every tax season there is a steady stream of taxpayers clamouring to file before the April deadline. After all, with a window consisting of a few months, it can be easy to put your filing on the back burner for a while. But aside from the risk of missing the IRS deadline, what else is there to motivate citizens to file at the beginning of the season vs. the very last minute?
Here are two reasons why you should be filing your taxes early:
Earlier Tax Refund
Probably the biggest perk of filing your taxes early is that you will receive your refund earlier than most. The sooner you submit your return, the quicker the IRS will prioritize it. Better yet, is the fact that this service is expedited further if you file electronically. Using the convenient e-file process can save you a few weeks of waiting on your tax refund. That’s not too shabby. The bottom line is that you are going to have to file at one point or another, so wouldn’t it make sense to leverage as many benefits as you can by getting it finished early?
Room To Breathe
At face value, what’s a couple of month’s difference going to do for any given citizen’s tax future? Well, in an ideal world, not much. However, we’ll be the first to tell you that we indeed, do not live in such a place. Taxpayers constantly have trouble finding certain documents, and the rigors of everyday life can lead to a lot of headaches when trying to put together everything you need to file. Starting on your taxes early mitigates the risk of missing the deadline because of some unforeseen circumstance. Wouldn’t you like a little extra room to breathe?
Filing taxes every year is be both challenging and stressful. We’re confident that getting into the process early can cut down on unnecessary hardships. If you are looking to help make the process as smooth as possible, we’d recommend getting in touch. For more information on other financial topics, check out our blog.