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Rush to Refund: Why Early Tax Filing is the Smart Choice!

Early Tax Filing is the Smart Choice

Rush to Refund: Why Early Tax Filing is the Smart Choice!. (PHOTO: Investopedia)

According to CBS News, to gain from early tax filing many people are following financial experts’ advice and submitting early. With the deadline nearing consumers realize early filing may speed up tax refunds and give much-needed money. Early tax filing let people plan for tax obligations and prevent last-minute hassles and fines. Early tax filing receive financial aid and knowledge to make financial decisions. If people countrywide follow this proactive approach, tax season may go well setting a precedent for wise financial management.

READ ALSO: Property Tax & Rent Rebate Program: State Offers In-Person Assistance For Pennsylvanians

Expert Advice from Tax Partner Michael Herzog

Taxpayers should file early in February for financial and mental health reasons no matter if they are getting a return or owing money. Metz Lewis tax partner Michael Herzog says that filing early is a good idea because refunds are usually $2,900. Herzog suggests internet filing and direct payment to avoid problems with the IRS so that W-2s and 1099s can be processed and sent to you faster. He also says that people should file their taxes early to avoid surprises at the last minute and to plan their payments. It takes the IRS 21 days to handle refunds through e-filing and direct payment, so sending in your return early helps you avoid delays before April 15.

READ ALSO: Social Security Update: Facts About The Benefits That Most Retirees Are Not Aware Of

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