Taxes: Why Wait?

Employers are required to mail W2's by January 31, yet many people still wait right up until the April 15 deadline to file their taxes. Filing early not only helps avoid all that last minute pressure, it is also the best way to insure that you will receive your refund in a timely manner if you overpaid. If you owe the IRS money, you can always set up a payment arrangement, but it is still a good idea to file early and relieve yourself of the added pressure of rushing to the mailbox before midnight on the 15th.

It is simple –and in some cases free- to file income taxes online, so why wait? Get your information together, sit down at the computer, and get it out of the way. There are many software programs available that make filing income taxes a breeze. These programs walk you through each step, check your calculations, and sometimes even find deductions that you might have missed. You can also purchase your own software, making electronic filing even more convenient.

Your taxes will be filed electronically and you will receive confirmation that your information has been received. You can even check the status of your return online. This year instead of waiting, see how quickly you can file. Then when everyone else is running around at the last minute, you can relax. Your income taxes will be long forgotten and you can concentrate on earning money rather than reporting it.

If you are not accustomed to filing your own income taxes, you can still hire a tax preparer and you can certainly still request a refund anticipation loan, but you may find that you don't need either one. If you file early and use one of the many handy tools now available, filing your income taxes no longer has to be something you dread.

By Sherry Holetzky

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