Finance Globe

U.S. financial and economic topics from several finance writers.
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Start Preparing to File Your Taxes Early

tax-filing1

Are you the type of person who makes it a habit to file your tax return at the last minute? Are you hoping to get this off your plate earlier in 2019?

Regardless of what you’ve done in the past, there are many reasons to file your taxes early next year. It’s a change to your typical system, but once you understand the benefits it’ll become second nature to you.

1. Faster Tax Refund

There is no better feeling than learning that you’re receiving a tax refund from the IRS. If you’re confident this will be the outcome, the sooner you file the sooner you can secure the money.

With the IRS beginning to accept e-filed returns in late January, you’re not far off from getting your hands on a refund.

2. Peace of Mind

It doesn’t matter if you’re due a refund or owe money, it’s a bad feeling to have a tax return hanging over your head.

Once you file, you can put this feeling in the past for another year. This reduces your stress level, all the while giving you peace of mind.

3. More Time to Pay Money You Owe

Maybe you’re not due a refund, but instead owe money. This is disappointing, but it’s likely to happen to you at some point.

Get this: if you file early and find that you owe, you don’t actually have to pay until the mid-April deadline. This gives you more time to assess your situation and dig up the money you need to make things right.

There are other benefits of filing your taxes early, but these are the ones that should really get you thinking about making a change in early 2019.

If you want to get an early jump on your tax filing, now’s the time to start collecting the necessary information. As the year comes to an end, you’ll find that you have almost everything you need. Once you receive your final income documentation in the new year, you can then push forward.

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Comments 1

Frank on Monday, 29 October 2018 11:52

This is a great idea, but I always file at the last minute. I am not a fan of taxes!

This is a great idea, but I always file at the last minute. I am not a fan of taxes!
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Monday, 14 October 2019

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