As the time comes to start thinking about tax return preparation, everyone will be rushing to meet the IRS deadline. However, it’s possible to file your returns early and beat the rush. By filing sooner, you can enjoy a number of benefits.

4 Benefits of Finishing Your Tax Return Preparation Early

1. Get Your Refund Faster

You may already know that filing your tax returns electronically will allow you to get your refund several weeks earlier. Additionally, completing your tax return preparation before the season begins can put you ahead of the line, so your refund will reach you earlier. If you have plans for your refund, filing sooner can help you get a head start.

2. Get More Time to Pay

If your accountant informs you that you owe the government this year, filing early can give you extra time to pay. You may need that time to receive correspondence from the IRS that will inform you of any fees or penalties you owe. You can then plan ahead to submit your payment before the April 15th deadline.

3. Avoid Scams 

Cybercriminals are biding their time in the hopes of conning tax payers out of their refunds. These criminals typically start sending out fraudulent letters and emails from January through April, so filing early will reduce the chances that you’ll be targeted. Once you have been victimized, fixing the financial fallout can take several months, so it’s better to reduce accessibility to your personal and financial information by filing early.

4. Easier Access to Professional Help

As soon as the new year starts, certified public accountants face their busiest months of the year. It can be difficult to get an appointment with a tax preparer at this time. However, if you’re ready to file sooner, you can beat the rush and get an early appointment with the preparer of your choice.

If you’re ready to take advantage of early tax return preparation services, turn to James & Associates. Their certified accountants have provided tax preparation and accounting services to the Wailuku, HI, area for more than 25 years. They’ll help you take advantage of the latest tax law changes so you can either maximize your refund or reduce what you’ll have to pay. To schedule an appointment, visit their website or call (808) 244-2030.