If you are someone who likes pushing the envelope until last minute on your taxes, you’re not alone. However, there are a few reasons why filing your taxes early in the season may benefit you in more ways than you know.

First Come First Serve

As the saying goes, “the early bird gets the worm.” The first, and most obvious reason, is that you will receive your refund sooner. This IRS is less busy with processing returns in the earlier months of tax season. This is especially helpful if you owe money on loans. Getting your refund early will allow you to pay off debt sooner and avoid high interest.

Procrastination is the Enemy 

You will feel much better just getting it out of the way. Putting it off can be stressful and even effect other areas of your life and work. Additionally, getting it out of the way early will allow you freedom to change any mistakes made while filing (ex. forgetting to enter in your Social Security #). Get rid of the storm cloud early rather than letting it follow you around.

Uh-Oh, I Owe Money

Filing early will leave you more time to realize mistakes. Never rule out the possibility of the huge mistake of discovering you owe money. You don’t want to wait until last minute only to become aware you actually owe the government. This could lead you to a late filing where you will end up paying interest, along with the possibility of penalty fees.

Needless to say, it is up to you to decide the best time to file your taxes given everyone has a unique situation.

Do you have any questions about your taxes? Helping with your taxes is just one of the many great services we offer. Feel free to give us a call at 856.794.8400 and let us help you get your taxes done early.