It's often possible to file your tax return as early as January, once you've received your W2 from your employer and your 1099s from your investments. The IRS will even accept your return as soon as January. But this is one situation where the early bird doesn't always get the worm. Let's dig into whether filing early will leave you satisfied or spitting dirt.
How Filing Early Might Help You
Though many people think of filing their tax returns as a dreaded chore to be postponed for as long as possible, there are many reasons why it can make sense to file early.
- Get your refund faster. If you've overpaid your taxes and are expecting a refund, it makes a lot of sense to file early. You'll get your refund sooner not only because you're filing earlier, but also because the IRS probably won't be as busy in January, February or March as it will be in April and beyond.
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