Learn how to file taxes early so that your return can get to the front of the line and you can receive your refund as quickly as possible.
Wallet hard-hit by the holidays? Join the crowd. The only thing more depressing than picking mutilated wrapping paper off the floor is taking a look at your credit card statement. Yikes!
Thankfully, Uncle Sam is here to save the day. Soon after you ring in the New Year it will be time to take account of the old by filing a 2012 tax return. And for many people, this means a sizable tax refund. If every year you pay for your holiday spending with the tax refund you expect to receive in January, you’re hardly alone. But that means it’s imperative you get your refund as quickly as possible.
Unfortunately, this year IRS e-file doesn’t start until January 22nd. a week later than in recent years. But you can get a jump on the start of the season by learning how to file taxes early. In fact on RapidTax you can prepare your return as early as January 3rd .
“What’s the point of preparing my return before I can file it?” you may ask. Well, filing early has several advantages.
When e-file begins on January 22nd and the IRS starts accepting returns, they are going to face a huge backlog of returns that have
already been submitted through sites like this one and are awaiting processing. They slog their way through those returns on a first-come, first-served basis.
This means that even if you file right on the 22nd – the day that e-file opens – you’ll already be at the back of a long line. Ultimately this translates into having to wait a little longer for your refund.
The only way to absolutely guarantee that you get your money as quickly as possible is to prepare and submit your return as soon as possible. That means preparing your return with RapidTax on January 3rd or soon after.
You’ll find that there are many benefits to filing your return early, in addition to getting your refund money sooner, you will also get the full attention of the customer service agents and tax professionals who are here to help you prepare your return.
Every year there’s a mad rush of people filing in late January and early February. In such a hectic environment it’s often difficult to get the personalized attention you might desire. You can avoid this problem by preparing early, when it’s still relatively quiet.
So mark your calendar for January 3rd and begin your return as soon as possible.
Photo via nigel on Flickr.
This entry was posted on Thursday, December 27th, 2012 at 2:13 pm and is filed under Tax Deadlines. Tax Tips .