Reasons to file your taxes early
7 Reasons to file your taxes early
The IRS tax filing season has already started
Filing your tax return early, just like the early bird who catches the worm, can lead to several advantages well before the April 15 deadline. Here are seven compelling reasons to get started on your taxes as soon as possible, ensuring you can breathe easy knowing this annual chore is done.
File your returns as early as possible
1. **You’ll receive your refund quicker**
One of the main perks of filing ahead of time is the speed at which you can expect your refund. The IRS will start accepting returns for the 2025 tax year on January 26. According to them, the majority of taxpayers get their refunds within 21 days if they file electronically, assuming there are no processing hiccups.
Early filings get processed first. If you’re at the front of the line, you’ll see your refund sooner.
2. **More time to settle up with Uncle Sam**
No matter when you file, you have until April 15 to settle any tax obligations. Filing early gives you additional time to figure out how to pay any amount you owe for 2025.
It opens up more options for exploring payment plans if you find it hard to pay everything back in one go. The IRS has both short- and long-term payment plans available, which you can check out at IRS.gov/paymentplan.
3. **A jumpstart on planning for a tax-savvy 2026**
Getting your 2025 taxes completed promptly sets the stage for your 2026 plans. If you end up owing this year, it could be wise to begin adjusting your withholding or estimated tax payments to avoid financial strain in 2027. The earlier you make these adjustments, the better chance you have of not owing next year.
On the flip side, if you anticipate receiving a significant refund this year, reducing your withholding can help keep more cash in your wallet throughout the year.
4. **You’ll have more time to correct mistakes**
Filing your taxes early gives you extra time to handle any unexpected issues that might arise, such as receiving an incorrect tax document from your employer. Additionally, as Gallegos points out, “Early filers have more runway to locate missing documents.” If the IRS identifies a mistake on your return for 2025, you will likely need to file an amended return with Form 1040-X.
5. **The IRS usually has shorter wait times for calls**
In general, the earlier you file, the simpler it is to reach an IRS representative if questions or problems arise. The IRS typically experiences shorter wait times in February compared to March and April. They’re going to be more communicative because it hasn’t really gotten busy yet.
6. **It’s your best shield against tax-related identity theft**
Filing early helps minimize the risk of fraud, like someone submitting a return in your name using stolen personal information such as your Social Security number. Unfortunately this happens, but fraudsters can’t file under your name once your real return is already in the system.
You can also enhance your protection by obtaining an identity protection PIN (IP PIN) from the IRS. This six-digit code, which changes annually, assists the IRS in verifying your identity when processing your return. If you enter the wrong IP PIN or fail to include it on your return, your electronic submission will be rejected, and the paper return will take longer to process as the IRS confirms your identity. The quickest way to get an IP PIN is through the IRS website.
7. **You’ll have more one-on-one time with your tax preparer **
If you enlist the help of a tax professional to prepare your return, scheduling meetings is generally easier earlier in the tax season since many taxpayers tend to wait until the last minute.
This is beneficial for your tax professional too as it eases the pressure of having one less filer to manage at crunch time. The closer we get to April 15, the busier they get. Wait until the last minute and your return will wait for processing in a very large pile of returns.
Tax professionals continue to urgetaxpayers to file electronically, choose direct deposit and file as early as possible to reduce the risk of delays. Refunds can be tracked using the IRS “Where’s My Refund?” tool at IRS.gov.
Insure you have the forms you need to file your taxes
The right options for easy wage and information reporting, inFORM Decisions offers tax forms in just about every paper median for all your tax season preparation needs. Forms packages are available for Computer Guidance, CMS, JDE, Peoplesoft, Oracle, Payroll for North America, Vertex Tax Technology, Thomson Reuters, Onesource, CDW Tax Service and more. W2, 1099, ACA, and many more are available as blank laser forms, pressure seal forms, continues forms, and more. Please call (800) 858-5544 or (949) 709-5838 Ext.123 to order your tax form paper and envelopes or email Erin at erin@informdecisions.com.
