- It can cut down on your odds of tax identity theft. The sooner you file the return, the less time someone has to make a fraudulent return in your name.
- Get your money earlier. Most refunds are issued in about 21 days, therefore, the sooner you file the sooner you will get your refund.
- You will have more time to get a payment together. If instead of getting a refund you owe taxes, you will have more time to ensure you are ready to pay your tax bill and avoid paying interest and penalties.
- It can help with financial aid. If you have children heading out to college you will need information on your tax return to fill out financial aid applications.
- Your return may be more complex than you thought. You never know when your tax return may end up being more complicated than you thought.
March 11, 2016
by Berry & Moro CPAs