Make Sure to Skip the April 18 Tax Rush
The last day to file your 2015 taxes will be April 18, 2016*. This provides three additional days to file because Washington, D.C. is celebrating Emancipation Day on Friday, April 15. Just because there are more days to file doesn’t mean you should procrastinate and wait until the last minute. You might be surprised at the benefits from filing early.
*Except in Maine and Massachusetts, where the deadline is April 19.
Avoid Stress and Gain Peace of Mind
It’s true that most people don’t enjoy dealing with their taxes, and for this reason it is common that they avoid it. That being said, everyone feels a certain relief once they’ve actually submitted their tax return. The US Tax Center makes filing your taxes as easy as possible. You don’t have to know everything about the tax laws or tax forms.
Get Your Money Faster
Another bonus to filing your taxes before the deadline is receiving your refund sooner. Most people who file have a tax refund coming their way. The earlier you submit to the IRS the earlier they can process it and send your refund. In 2016 the Internal Revenue Service expects to issue 90% of federal tax refunds within 21 days or less when you e-file with the option to use direct deposit.
You might ask what about those that file early and end up owing the IRS? There is no need to worry. Your payment due date isn’t moved any earlier just because you filed earlier. Filing early will actually give you more time to get the money together that you owe before the tax deadline.
Avoid Making Errors
It is not uncommon for people rushing to file their taxes to make mistakes. The most common mistakes involve incorrect social security numbers for themselves, spouses, or dependents. Entering incorrect information can cause you to miss out on valuable deductions and tax credits. It’s to your advantage to avoid the rush at the last minute.