1. You’ll get your money as soon as possible.
Of course, this is probably the most apparent reason to file early. The sooner you file for a refund, the sooner you’ll get it back. If you tend to procrastinate and file closer to Tax Day, the busier the IRS will be, and the longer it will take to receive your refund.
2. You can prevent your return from being stolen.
Criminals would love to have your tax refund. This type of white-collar fraud has grown because criminals will file the return early before most tax returns are prepared–using your identity to steal your money. By filing quickly, you will give them fewer opportunities to commit fraud.
3. You’ll be less stressed.
The 2017 tax deadline is April 18th. If you find your taxes are more challenging than in past years, this date will give you a little more time to prepare. Giving you a few extra days may help reduce stress.
4. You’ll have more time to pay.
Hopefully, you’re looking at a refund this year, but if not, any tax due will need to be paid in full by April 18th. Think about putting money aside as soon as possible if you know you owe money on the April 18 tax deadline. This deadline will also give you a few extra days before you have to pay.
5. Tax pros are less busy.
Not only is the IRS less busy early in the year, but tax professionals are less busy too. You need to keep this in mind if you are using a tax professional to prepare your tax return. The earlier you schedule your appointment the quicker you will receive your refund, or prepare a strategy for paying your taxes due on time.
-Adapted from John Pettit, Managing Editor for www.cuinsight.com