Benefits of Filing Taxes Early

    3 minutes
    5 ways getting ahead this tax season can be beneficial
    One-third of Americans wait until the last minute to file their taxes. Procrastinating can lead to added pressure and mistakes that can have serious consequences impacting our financial health. Filing taxes early has several benefits that can help you save time, money and reduce stress. Here are some reasons to consider filing your taxes early:

    1. Get your refund faster. One of the biggest advantages of filing your taxes early is that you can receive your tax refund more quickly. If you are owed a refund, filing early means you can receive it within a few weeks rather than waiting for several months.
    2. Avoid last-minute errors. Filing your taxes early gives you plenty of time to double-check your tax forms and make sure everything is correct. This can help you avoid mistakes that could delay your refund or result in penalties.
    3. Have more time to pay. If you owe taxes, filing early gives you more time to come up with the money you need to pay. This can help you avoid having to pay a large sum all at once and can make it easier to plan for your tax payment.
    4. Avoid the rush. Filing your taxes early means you can avoid the last-minute rush to file on the deadline. This can save you time and stress and can also make it easier to get help from tax professionals or tax software if you need it.
    5. Get help if you need it. If you are unsure about how to file your taxes or have complex tax situations, filing early gives you more time to seek out help from a tax professional or other expert. This can save you time and money and can help ensure that your taxes are filed correctly.
    Filing your taxes early can help you receive your tax refund faster, avoid errors and penalties, have more time to pay if you owe taxes and get help if you need it. Consider filing your taxes early this year to take advantage of these benefits. While we are not tax experts, we can refer you to local resources in the communities we serve. This is just one of the many ways we can help. Make an appointment at your neighborhood Financial Health Center for personalized financial guidance.