E-filing Taxes: Why you should file your tax documents at the earliest

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The IRS announced the beginning of tax season from the 28th of January. The sooner you file your return and settle your tax liability, the better. A lot of people tend to procrastinate till the very end of the tax season to make their move, which is not recommended if you’re looking to maximize your refund.

Tax refunds can make a huge difference for you, financially. Not only do they allow for clearing up of various forms of credit you might have but also can contribute to your rainy day savings.

Also, with platforms like MyTaxFiler, you can complete the process with just a few clicks from the comfort of your home. And if you still are simply planning on procrastinating your tax filing process, let us present you with a list of arguments in the favor of making haste with your tax filing process.

Early bird catches the worm

It is no secret that the holiday season can often break your back and have you worrying about your finances the following week. In such a situation, tax refunds can provide the much-needed relief. Also, the sooner you file it, the sooner you will receive the refund you are eligible for.

The IRS has announced that it will be issuing an average of nine out of ten tax refunds within 21 days or less with e-file or direct deposit. What’s encouraging is that last tax season, about 4 out of 5 tax filers received a refund on their deposits, with the average tax refund amounting to around 3000$! Need we say more?

The process is easier than ever before!

With the option of e-filing, tax filing has become a hassle-free process. MyTaxFiler not only offers easy solutions to all your tax filing woes but also can provide you with personalized services for all your tax related needs.

You can look up all the possible tax refunds you are eligible for and claim accordingly. Thus, you don’t need to waste any time standing in a queue when you can do the needful from your home and even on the go!

Consult experts with just a few clicks!

E-filing also has another huge benefit. It allows you to consult experts with just a few clicks of your mouse. Platforms like MyTaxFiler allow you to consult professional experts to make a well-informed decision. With us, not only can you access the latest updates on the IRS policies but also consult a team of expert CPAs to guide you through the maze of tax filing procedure. You can be sure of making the most of your tax deposits with the maximum possible refunds. All this becomes even easier if you are diligent from the very start of the tax season.

Buy more time to figure out your finances

Another benefit of filing your tax documents early is that it gives you adequate time to plan your finances based on amount of tax due. This essentially means that you don’t have to pay the amount due immediately after filing your papers.

The sooner you file your papers, the longer you get to plan your budget. Filing in January will give you till April to figure out the logistics of your finances. Preparing your taxes early will also give you a headstart in figuring out how to pay or even sort out other options for the same.

An early filing can also generate high tax refunds and contribute to your overall IRA, resulting in a fair amount of tax deductions.

Thus, an early start will result in a number of benefits for your overall tax refunds and deductions. Drop us an email at tax@mytaxfiler.com to get expert tax advice at your fingertips.

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