Today, Monday, January 27th, is the first day the Internal Revenue Service will begin accepting 2019 tax returns. Appoximately 16 million, or roughly 10%, of last year's 155.7 million federal tax returns were filed in the first week of tax season. Couple of reasons experts say it is a good idea to file sooner. If you've overpaid your taxes, then you'll get your refund sooner. Not only is that money in your pocket, but it also minimizes the chance of refund fraud, where a hacker uses stolen personal data to pocket a refund owed to you. If you owe taxes, filing early gives more time to figure out a payment plan before the April 15th deadline to file your return and pay any taxes owed. Filing early does put you in the minority! The IRS says about 20-25% of all Americans wait until the last two weeks before the April 15th deadline to prepare their tax returns.
Of course we can help! But don't wait till the last minute.