The tax deadline is a little over a month away, however, there are a few reasons as to why you should file your taxes sooner rather than later.
- The most obvious reason is a faster tax return. You will receive it even faster if you file electronically selecting direct deposit into your bank account. The IRS began accepting e-filed returns this year on January 29th, so why not go ahead and file?
- You would have additional time to pay taxes you owe. If you owe a balance, you do not have to pay the taxes you owe until the filing deadline in April.
- Fraudulent tax returns are normally filed early in the season before most have had a time to file. If you file early, you could avoid this.