Though it may change later, due to the pandemic, the last day to file your tax return in 2021 is April 15th, for most people. After that, you risk suffering consequences such as fees, penalties, and even sometimes jail. You can eliminate the risk by taking care of your taxes sooner rather than later. Besides avoiding fines and penalties, here are some other good reasons to file your taxes before it is too late.
#1: Get Your Refund Back Sooner
The earlier you file your taxes, the earlier you will receive the money you are refunded. There are no guarantees you will get a refund, but either way, it’s better to know what’s going on sooner rather than later. Why wait if you have money that you could use for paying down debts or for investing in something, just because you filed your tax return late? Take care of it now and you’ll be grateful later.
#2: Reduce Stress
Another great reason to file your taxes early is to avoid the stress of having to scramble around with a tight deadline at the last minute, gathering necessary documents and so on. If you are stressed and rushing through getting your taxes done, it’s also more likely that you could make a mistake. If you want to reduce stress even if you the deadline is rapidly approaching, consider hiring Prosperity I.Q. Financial Solutions to help you prepare your taxes. We provide people in the Raleigh-Durham Triangle area of North Carolina with effective, affordable assistance. Contact us now to get started!