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When it comes to tax preparation, getting an early start is best. But when should you start working on your tax return to garner the greatest reward? The Callen Accounting Group, PLLC, an accounting firm in Mountain Home, AR, will answer this and many other essential accounting questions to ensure you make the best possible decision. Below, they share information to help you decide when to get started on tax preparation based on your specific needs.

3 Tax Preparation Considerations

Filing Early

A tax return can be prepared as early as mid-to-late January. In general, filing before March 15th helps mitigate costs related to tax preparation whether you use software or an accounting service. It will also allow you time to rectify any issues with your return without incurring a late fee. While getting started early can result in you getting your refund that much quicker, you want to make sure you have all the proper documentation you need to file a return.

Avoiding Identity Theft

tax preparationIdentity theft is a considerable problem, especially when it comes to tax returns. If this is a concern of yours, file as soon as you’ve compiled the appropriate paperwork. The thieves’ method is to file a phony return to access another person’s refund, so file early to prevent them from doing so.

Expediting Your Refund

You can also expedite your refund by filing online. Paper returns can take up to eight weeks to be reviewed and processed. Conversely, filing electronically will see your refund returned to you in just under a month, especially when using the direct deposit option.

If you need reliable tax preparation service in the Twin Lakes area of Arkansas, The Callen Accounting Group, PLLC is poised and ready to help no matter the time of year. Schedule an appointment with an accountant today by calling (870) 425-6066. If you’d like more information on the full range of services offered, visit their website.

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