3 Reasons to File Your Taxes Early

By: CUInsight

2022 is here! As is usually the case at the beginning of the year, there are a lot of things to think about, and one of the first things we think about every year is filing our taxes. This year we have until April 18th, but why wait that long? If you have all the necessary paperwork (W-2, etc.), why wait? Here are three reasons you should file your taxes in January - the sooner the better!

You’ll get your refund sooner: So, yeah … duh. The sooner your file for a refund, the sooner you’ll get it back. The closer you wait until Tax Day, the busier the IRS is, and the longer it’s going to take to get your money back. I don’t know about you, but that’s reason enough for me.

You’ll have more time to pay: Hopefully you’re looking at a refund coming your way, but if not, you’ll have to be paid in full by April 18th. If this is the case, you’ll give yourself more time to pay by filing early. Think about that if you know you owe money this year.

Tax professionals aren’t as busy: Not only is the IRS less busy at the beginning of the year, but tax professionals are as well. Keep this in mind if you’re not filing on your own. For those of you who file online, this won’t be a big deal, but if you need a pro to help sort through a mountain of receipts, you’ll be glad you made a January appointment.

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Visit https://taxservices.lovemycreditunion.org for TurboTax and H&R Block offer details and disclaimers.