Stretch Your Dollar: Why you should file your taxes early

(Image: Shutterstock)

(WTNH) — It’s easy to hit the procrastinate button during tax season, but experts say not to wait so you save your money and a possible headache down the road.

Financial website The Motley Fool Lists says if you’re getting a refund, you’ll get it sooner. About 80 percent of tax filers get money back and last year the typical refund was more than $2,700.

The website says it also helps to file early, if you owe the Internal Revenue Service (IRS) money. It will give you more time to figure out exactly how you’ll pay that tax bill and figure out where to get the money.

Filing early can even help prevent tax fraud, according to the financial website.

The IRS has software that flags duplicate returners. So once you get your return filed and on record, it makes it harder for a scammer to file a second one and grab your refund.

Also, there’s always a peace of mind from filing early. By getting it out of the way now, you won’t have to worry about it later.

Don’t forget taxes are due on April 17th.

WTNH NEWS8 provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review. Also, you can now block any inappropriate user by simple selecting the drop down menu on the right of any comment and selection "Block User" from there.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s