Some Benefits of Filing Early

Tax season comes with its fair share of anxiety. Let’s be honest – it isn’t something we look forward to. But we can certainly take action to position ourselves well, and that begins with planning to file our tax returns earlier in the year. 

How does expediting your tax filing help? Well, here are a few tangible benefits –  

• Faster Refund Processing 

The IRS processes fewer tax returns earlier in the season. Filing early enables the IRS to process your refund quicker, which means you can plan for that vacation earlier, or simply invest the proceeds to build your nest egg. 

• Greater Personalization & Stress Reduction 

Accountants have a lot of clients. This invariably means that we juggle multiple clients, as we get closer to the April 15 deadline. In submitting your documents early, you are in a scenario where you potentially have our undivided attention. This means faster communication and turnaround times. Once the tax return is filed, the last-minute rush and stress associated with the filing deadline is gone! 

• Fraud Protection 

Tax-related identity theft has gone up over the years (The FBI has reported a 26% increase in tax related identity theft complaints from the previous year). In this scenario, a scammer could impersonate you and file “your” tax return with the intent to collect your refund. Filing early means that the IRS has a record of your return. If a fraudulent return is filed, it will be rejected. 

• Payment Planning 

In the event you owe the IRS money, filing early helps with payment planning. If the amount is unexpectedly large, you may need some time to assess your finances and raise the amount due. 

We look forward to working with you and making your tax-filing experience efficient and stress-free!