We’ve all been guilty of procrastinating.
But there’s one thing we love putting off until the last minute more than anything else: Paying our taxes.
During the 2019 tax season, 34 million taxpayers or so, waited until just before or the week of April 15 to file their tax returns.
April 15th is the deadline….. not the date to start filing your taxes. As soon as you have all your documents, file your taxes.
The IRS typically begins accepting tax returns in mid-January, and employers usually send out W-2s by the end of that month.
But here are 5 good reasons not to delay filing your taxes this year:
1. Over 70% of taxpayers receive an average refund of $2,800.
2. Early filers eliminate tax deadline stress.
3. Early filers average larger refunds.
4. Early filers can protect their refunds from identity thieves.
On the flip side….
5. If you’re facing an income tax bill instead of a refund, filing early gives you more time to pay.
Here’s why….
If you go ahead and fill out your tax forms and file them, you’ll know exactly how much you have to pay. And you won’t have to pay in full until the April filing deadline.
That’s more time to come up with the money, which decreases the chance of you busting your budget or draining your emergency fund.
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Until next time…..
Agree or disagree? I love your comments! So please let me know your thoughts in the comment section below.
I look forward to hearing from you!!!
Althea
Helping God’s people realize and achieve their true financial potential, become debt-free, build wealth and give generously!!
PS. Financially, most of us know what to do; we just have trouble doing it. That’s where a coach can help. CONTACT ME for a FREE 15-minute consult.
