Many Americans dread tax season like no other time during the year. That's why so many people reason that they have plenty of time -- until April 15th, as a matter of fact -- to get it done.
But why wait? The earlier you get the process started, the better!
Don't believe us?
Here are 3 reasons why you should file your taxes ASAP!
1. Faster Tax Refund
If you are one of the lucky Americans who, instead of paying out a hefty sum in taxes each year, receives a tax return, you have a great reason to file your tax return right now.
Often, if you delay filing your taxes to the last possible moment, you will find yourself waiting several weeks to receive your return. And if you opt to file by paper, the mailing process may take even longer as it has to travel both ways.
So get on it now! E-file with one of the many free tax return software or websites available and get the ball rolling to receive your return.
2. More Time to Pay Taxes
If you actually owe taxes this year, you may not want to run up against the tax deadline this year.
Say you prepare your Form 1040 in January. That means you have four months to get your finances arranged to better cover the taxes owed. Whether you are an individual or a business owner, that extra time will make paying your taxes in 2019 easier on your pocketbook.
Plus, the stress of waiting until the very last minute may not seem so heavy. If you have always waited for the deadline to file your taxes, you may be used to the stress.
But if you take the initiative to file your taxes now rather than later, you will save yourself time, energy, and maybe some mental health.
3. Avoiding Tax Return Identity Theft
When you start your filing process as early as possible, you can get the jump on any would-be identity thieves long before they find an opportunity.
You may believe yourself to be one of the lucky few who will never face the threat of identity theft, but you truly never know when a thief could strike. And believe us -- any thief with your social security number will not be looking to pay your taxes for you.
Never let someone else take what is rightfully yours, especially after you've worked so hard all year to earn it.
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