The New Year is almost here! That means you should be starting to think about filing your taxes. You might be thinking it is way too early for all this tax talk, but now is actually the perfect time to get a head start on your preparations. Sure, the deadline isn’t until April, and common tax forms like W2s won’t start appearing until late January, but being proactive is worth it when you consider the benefits. Filing your taxes early with the help of a tax service in Des Moines, IA can help you snag a larger refund, decrease the likelihood of becoming a victim of identity theft and give you more time to pay off any back taxes you might owe.
Let’s take a look at five of the reasons why filing your taxes early should be added to your list of New Year’s resolutions:
- Better for your refund: Did you know that early filers receive larger refunds on average? IRS data indicates that those who file their taxes by mid-February historically receive larger refunds than those who file closer to the deadline. Plus, you’ll end up getting your refund faster because the IRS isn’t yet bogged down with the massive influx of last-minute filings.
- Safeguard against identity theft: The sooner you file your return, the less time someone has to file one under your name illegally. A thief only needs your Social Security number to submit a return until your name. Then, they’ll get your refund. By filing early, the IRS won’t accept their return, as their records will show it has already been processed.
- Extra time to pay taxes you owe: Finding out you owe money to the IRS can be a major pain. While filing early won’t fix the problem, it can help soften the blow. Taxpayers who file their returns in early months of the year don’t have to pay the owed amount until the actual April deadline. You can then use the extra time to make any necessary payment arrangements.
- Minimize stress: Nothing is more stressful than rushing to file your taxes before the deadline. Why put yourself in that situation? Getting it out of the way as soon as possible will help relieve the stress so you can focus on the more enjoyable tasks on your to-do list.
- Less competition for qualified tax professionals: Most tax professionals are booked solid by the time March rolls around. You could be left struggling to complete your taxes on your own without the help of a trained tax service in Des Moines, IA. One mistake could cause you to lose your refund or miss an important money-saving deduction.
Take the stress out of filing your taxes early by enlisting the help of Accounting & Tax Professionals, PLC. As the top tax service in Des Moines, IA, we’ll take every step to ensure you are never paying more than you owe with our personal and business tax services. Act soon, as our tax preparation appointments fill up quickly over the next few months. Call us today to schedule your appointment!