5 Benefits of Filing Your Tax Returns Early

5 Benefits of Filing Your Tax Returns Early

The Benefits of Filing Your Tax Returns Early

  1. Faster Refund: Most people wait until March/April to submit their tax returns. With the large number of submissions to review, it takes longer for your return to be processed and funds distributed, therefore, delaying your refund.
  2. Prevent Identity Theft: If your SS# is compromised, a fraudulent tax return can be filed and a refund collected in your name. If this should happen, when you file later in the season, your return will be rejected as a duplicate filing. Filing early pre-exempts the tax thief.
  3. Proper Information/Documentation: Preparing early, without the anxiety of a looming deadline, will keep you calm when gathering all your documents. You can think about what information you need, and less chance of missing something.
  4. Tax Preparer Availability: When tax season is in full swing, the harder it is to contact your busy tax preparer. By preparing early, you will have their attention.
  5. Time to Plan If You Owe Taxes: Early filing gives you time to come up with an option for raising the money. You may borrow money or set up a payment plan.

If you need any assistance with your Estate, Tax or Long Term Care Planning, please do not hesitate to contact our office: (718) 238-6960.

This is a good time to plan for the new year ahead!

Please visit our website for information on Elder Law and Estate Planning: www.gylawny.com 

GRIMALDI & YEUNG LLP
Phone: 718-238-6960
Brooklyn and Manhattan Offices:

9201 4th Ave, 6th Floor
Brooklyn, NY 11209

546 Fifth Avenue, 6th Floor
New York, NY 10036

This post is made available by the lawyer for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this site you understand that there is no attorney client relationship between you and the lawyer. The post should not be used as a substitute for competent legal advice from a licensed professional attorney in your state. ATTORNEY ADVERTISING.