2023-01-19 17:24:38

5 Reasons to File Your Taxes Early This Year

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By Money Com

Taxes may not be due until April, but there are several benefits to getting started now.

You dont have to delay just because tax season doesnt officially start until Monday. Some tax preparers will help you fill out your tax return now, before the IRS actually starts accepting them. Theyll keep your information on hand, and once tax season formally begins, the companies will immediately submit your return to the government for processing.

Late last year, many tax experts were actually recommending that some people hold off on filing early due to a major IRS rule change that would have required payment networks popular among gig workers and folks with side hustles to send additional paperwork needed to file a return. However, the IRS announced just before Christmas that its pushing back the implementation of that new 1099 rule until next year to give taxpayers and professionals more time to prepare.

That means your last good excuse to procrastinate on your taxes is null. Heres why you should get started early this year (and most every year, for that matter):

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