5 Tips on How to File Your Taxes Early!

Tax season has officially kicked-off!

With the deadline being April 18, many taxpayers wait until last minute to file their taxes. According to the IRS, close to 75% of taxpayers received a refund of  about $2,800 last year. Did you know if you file your taxes earlier you may receive your refund before everyone else?

Marinés Duarte, TurboTax spokesperson and lifestyle expert, shares five advantages of filing your taxes early:

  1. File your taxes for free: Last year, 10 million people across the United States filed their taxes for free with TurboTax Absolute Zero. This year, 60 million Americans who file simple federal and state taxes (1040A or 1040EZ) can take advantage of absolutely free tax filing. $0 fed. $0 state. $0 to file.
  1. Get your refund faster: last year, close to 75% of taxpayers received a refund, and the average was about $2800. The IRS issues 9 out of 10 tax refunds within 21 days or less with e-file and direct deposit. The earlier you file, the earlier you’ll get your refund! Get a jump start on paying down your credit card, student loans or saving some extra money for an emergency.
  1. Extra time to pay what you owe: If you decide to file your taxes early, you will have extra time to pay what you may owe to the IRS. If you submit your taxes in January or February, you will not need to pay the taxes you owe until the filing deadline on April 18. This will give you extra time to figure out how you’re going to pay or find other options you have.
  1. Filling online is easy and stress-free: Simply snap a picture of your W-2 with your smart phone, review the information on the screen and send! TurboTax searches more than 350 tax deductions and credits to make sure you get what you deserve based on your answers. There’s no reason to stand in line at a tax store when you can do your taxes in the comfort of your own home and even on the go.
  1. Get help in your language: Exclusively with TurboTax SmartLook ™   now available with Spanish speaking experts, you can connect live via one-way video to a TurboTax expert and credentialed CPA or enrolled agents to get personalized, real-time answers to your questions when you need it – at no additional cost.  TurboTax experts can also highlight key fields and next steps on the screen for you, so you can complete your tax return with confidence.You can benefit from a second pair of eyes on your tax return so you never feel alone.

Comments

  1. Samantha Stein says:

    Yeah, most of us wait until last minute before filing taxes. We should get rid of this bad habit to get our tax refunds fast and also to make the most of our tax deductibles. These are awesome tips that can make everyone’s life easier when filing taxes. Thanks for sharing!

    I would just like to add that there are tax deductibles that are often overlooked by taxpayers. I’ve posted something just recently about these tax deductions. Qualified long term care insurance premiums are actually tax deductible. But there is a limit on the deductions, which depends on the taxpayer’s age at the end of tax year. Tax breaks are also applicable to family caregivers as long as they meet the requirements. The family caregiver should be able to prove that they are paying for their parents’ living expenses and that they are dependent on them. I hope this information can provide help to taxpayers.
    Samantha Stein recently posted..Long Term Care Tax Deductions

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