Every year, many taxpayers wait until the last minute to file, even though filing early has some great benefits. Here's the top 5 reasons to file your taxes early this year.
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Every year, many taxpayers wait until the last minute to file their federal income tax returns. Despite this tendency, there are many reasons to file your taxes early. If you will receive a refund, you may want to submit your return as quickly as possible. Additionally, there are benefits to filing early for those taxpayers who have a balance due.
1. Faster tax refunds
One of the most common reasons to file taxes early is to receive a faster tax refund. Filing your return electronically with direct deposit into your bank account is the fastest way to get your refund.
- It can take up to several weeks longer for paper returns, so it is always better to e-file a return if you want to receive your refund quickly.