6 Reasons it Pays to File Your Taxes Early – The TurboTax Blog

As the saying goes, “the early bird gets the worm.” Or is it the tax refund?

Well, whether you file early or you are a tax procrastinator, you still may get a tax refund, but here are six reasons it pays to file early.

Get your tax refund ASAP

Last tax season, the average direct deposit tax refund was over $3,000. That’s a lot of money! You could pay down credit card debt, student loans, or save it for a rainy day.

Filing online is easy

Using TurboTax online is easy, accurate and saves you money. Once you have gathered your tax information, you can go online and answer simple questions about yourself and get your maximum tax refund. TurboTax searches over 350 tax deductions and credits and makes sure you get every one you deserve based on your answers. There’s no reason to stand in line at a tax store when you can do your taxes from the comfort of your own home and even on the go. Plus, you can now connect live via one-way video to a TurboTax Live expert and get your tax questions answered from the comfort of your couch. The TurboTax Live expert can also review, sign, and file your tax return.

Spend less on debt

If you’ve been struggling to pay off that holiday debt, filing early may certainly offer some relief since the IRS expects to issue nine out of 10 tax refunds within 21 days from accepting your tax return if you e-file with direct deposit. Receiving your tax refund earlier can help you pay down your debt and save about 2 months’ worth of additional interest.

Avoid missing valuable tax benefits

People who wait until the last minute to do their taxes tend to rush and may leave out information. One of the most common mistakes tax procrastinators make in a rush is including incorrect social security numbers for themselves, spouses, or dependents. Incorrect social security numbers can cause you to miss out on valuable tax credits and deductions.

You may get a bigger tax refund than expected

Your everyday life or life changes can lead to some nice tax deductions and credits that can save money on your taxes. Life changes, such as getting married, having a baby, starting your own business, or starting a new job can lead to some huge tax savings that may get you a bigger tax refund.

More time and money to do what you like

Imagine what it would be like to have more free time since you not only saved time filing online with TurboTax, but you also have some more money in your pocket to enjoy months in advance of the tax filing deadline. You could get ahead on some bills, put some money away for retirement, and enjoy the additional free time with your family.

Don’t worry about knowing tax laws or forms. No matter what moves you made last year, TurboTax will make them count on your taxes. Whether you want to do your taxes yourself or have a TurboTax expert file for you, we’ll make sure you get every dollar you deserve and your biggest possible refund – guaranteed.

Lisa has over 20 years of experience in tax preparation. Her success is attributed to being able to interpret tax laws and help clients better understand them. She has held positions as a public auditor, controller, and operations manager. Lisa has appeared on the Steve Harvey Show, the Ellen Show, and major news broadcast to break down tax laws and help taxpayers understand what tax laws mean to them. For Lisa, getting timely and accurate information out to taxpayers to help them keep more of their money is paramount. More from Lisa Greene-Lewis