5 Advantages of Early Tax Preparation
It is one of those things we know we should do each year, but when the time comes, there are always reasons to procrastinate. Early tax preparation is one of the best ways to ensure that your tax return is accurate, that you are maximizing your refund and lowering your audit risk. Success Tax Relief has pulled together 5 significant advantages to preparing your taxes early in hopes that THIS will be the year you get started early!
1. More time to track down documents:
When your tax related documents (W-2 forms, 1099s, etc) start arriving in January, you start thinking about your taxes. You should receive all of this documentation by January 31st each year. As you start receiving these documents, you should keep them together (in a file is best) so that in early February you can go through your list and be sure that you have everything you will need to in order to file your tax return. In the event that you do not receive one of your tax documents (via US mail or electronically), starting early will give you time to track it down. On the other hand, if you wait to prepare your taxes at the last minute, you may not leave yourself enough time to gather all necessary information. Remember…the IRS considers you the one ultimately responsible for filing your taxes with all necessary information.
2. Less chance of careless error:
One of the biggest reasons that tax returns are flagged by the IRS for further review is due to careless errors. Thousands of returns each year are submitted with an incorrect social security number, arithmetic errors, or without a signature or date. Not only do careless errors raise red flags for the IRS, they also delay the processing of your return, which can delay your refund. Preparing your taxes early gives you more time to review them before you submit, and significantly reduces the chance of errors.
3. Get your refund faster:
This one is simple…the earlier you submit your taxes, the sooner you receive that refund check!
4. More time if you owe:
In the event that you owe the IRS money this year, it is always better to learn this sooner, rather than later so that you can make plans to pay.
5. Time to decide if you need help preparing your taxes:
Things change from year to year, both with your personal situation as well as tax law. If you prepare your taxes early, you will give yourself plenty of time to hire a professional firm for help, should you need it. You want your taxes done correctly and sometimes, it is just easier to get assistance.
Success Tax Relief: Tax Preparation Experts
Success Tax Relief has been helping clients prepare their taxes for over 30 years. Our team of professionals is ready to help you 7 days a week, all year round. We pride ourselves on strong customer service, competitive pricing and a track record of success. Give us a call today at 1-877-958-6638 so we can show you what we have to offer!