Are You Putting Off Filing Your Taxes?
April 15th. Tax Day. Judgment Day. The big deadline.
Maybe you have it circled on your calendar. Maybe it’s an annoying afterthought that won’t go away no matter how much you want it to. Regardless of how you feel about it, one truth is certain: April 15th is coming whether you like it or not.
There are some good reasons not to put off filing your taxes:
- If you’re due a refund, why let Uncle Sam keep your money any longer than necessary?
- If you owe the IRS, putting off filing simply increases your stress and worry, and may lead to you missing the deadline and having to pay a penalty.
- If there’s something missing or if you forgot to include a calculation or schedule, you may not have time to include it.
- If there are items on this year’s forms that you don’t understand, you’ll have little or no time to do research or to seek help.
- If you need professional tax advice, help may be scarce. Tax professionals are often booked solid during the last days leading up to April 15th.
- By rushing things at the last minute, you might miss out on important tax breaks or credits.
Tax laws change each year— sometimes incrementally, sometimes drastically. You’re far better served to get a jump on it early. In the end, you’ll get a better quality return and save yourself a lot of headaches and antacid pills.