3 reasons to get your taxes filed earlier, rather than later
Jan 30, 2023, 12:12 PM
SALT LAKE CITY — It’s something a lot of us put off until the last minute – filing our taxes.
In today’s “Save more, worry less,” money experts gave KSL TV’s Tamara Vaifanua three reasons why you should do it sooner, rather than later.
Filing taxes early can help protect against fraud
Someone could steal your identity and file a tax return in your name. Filing earlier minimizes those chances.
If you’ve already filed and the Internal Revenue Service gets a fraudulent return, they’ll automatically kick it out.
Get your refund faster
The earlier you file, the quicker you’ll get your refund.
That can help you pay or plan for expenses for the rest of the year.
#IRS has kicked off the 2023 tax filing season. This year, the tax deadline is April 18, 2023 for most people. Gather all information you need to prepare a complete and accurate tax return before you file to reduce errors. See: https://t.co/c7Ocqeejxb pic.twitter.com/6l3M8vgpcZ
— IRSnews (@IRSnews) January 23, 2023
Figure out withholding adjustments to lower payment next year
If you end up owing taxes, filing early allows you to figure out withholding for the rest of the year.
And if you can’t pay right now, you can set your payment up for a later due date.
This year’s deadline is on April 18 due to federal holidays. The IRS has more information and answers to common questions on its website.
