Filing income tax returns is not a favorite activity for many people. But the encouraging news is that completing the task early offers some great benefits. If you’re among the many individuals who put off filing their personal taxes until the last minute, here are some incentives for beating the April 15th deadline.

3 Reasons to File Tax Returns Early

1. Provides Quicker Access to Refunds

Receiving tax refunds faster is likely the top reason for getting state and federal income tax returns done as soon as possible. Working with a professional agent who specializes in electronically-filed personal tax returns can expedite the process even more. According to the IRS, it takes less than three weeks to get a refund after a completed and accurate return is e-filed. For mailed-in returns, it can take six to eight weeks.

2. Eliminates Need for Tax Extensions

While the IRS grants tax extensions to those who need more time, the consequences can be costly. This is especially true if you owe personal taxes on your state or federal returns. If payment is not made, the IRS will tack on late penalties and interest until the amount owed is completely paid off. Filing early provides enough time to get documents in order and, if applicable, come up with the tax payment due.

3. Minimizes Identity Theft

The IRS says millions of dollars are scammed from unsuspecting tax filers each year. From shady practices involving hurricane relief to pretending to be police officers demanding payment, thieves are getting more creative. Filing your personal taxes early may help reduce the chance of someone using your personal information to file fraudulent returns. If someone submits a return with your Social Security number after you’ve done so, the IRS has a system that will flag the duplicate. This quick identification can help stop identity thieves in their tracks.

It may not be at the top of your to-do list, but filing income tax returns early certainly pays off. The office of Clark W. Terrell, CPA in Crossett, AR, specializes in accurate and compliant tax services for both individuals and business owners. What makes the locally-owned firm unique is providing customized service at the location of your choice. Clients won’t be surprised by hidden fees because the agency offers an up-front, fixed rate. Get a jump on filing your personal tax returns today by calling (870) 364-5006 to schedule an appointment. Visit the website for information on the full suite of services. For your convenience, the office serves Ashley County and Southeast Arkansas, including Hamburg and Monticello.