Oh man, what’s that smell? 🙊 It’s a little bit paper, a little inky, and…wait, is something burning? Smells like tax time to us! The burning? Could be the midnight oil. It might also be rubber from tires speeding away from IRS agents. 🏍️💨
Here’s a pro tip: file those taxes early so the IRS doesn’t have to chase you down. Not only will you save on not having to replace those tires, you’ll also benefit from a ton of other early bird perks! 💵
Here’s Five Fast Facts on getting your taxes done ahead of the deadline:
- 🪱 Catching the Worm - Over the last few years, the IRS racked up a big honkin’ backlog during tax time. The later people file, the more time it takes for returns to get processed and refunds sent out. Although you have until April 15th 2025, the IRS will start accepting returns on January 27th.
- 🦹 Mr. Steal Your SSN - When tax season rolls around, scammers start licking their chops. Crooks love to steal SSNs and use them to gobble up your refund. Tax scams cost Americans a ton of money. The IRS discovered over $800 million in bogus tax refunds between 2021 and 2022. To beat the scammers, get your return in early before they have the chance to pull a fast one.
- 💸 Reel In That Refund - Filing early means you’re likely to get that refund much sooner. Early birds typically get their refunds within three weeks of submission. For 2024, the IRS expects the average tax refund to be over $3,000. Bonus: the sooner you get that refund, the sooner you can put it in a high-yield savings account and rack up more interest cash.
- 💰 Discount Diva - If you use an online tax software program, companies typically offer discounts and promo codes early in the season. If you wait until the last minute, you’ll likely pay full price. If you use a regular ol’ bean counter, their schedules fill up quickly. Get in with your accountant early to beat the rush and have your pick of meeting dates.
- 🦷 Rather Get a Root Canal - A recent survey showed that 61% of taxpayers feel stress over getting their returns done. Some respondents even said they’d rather go to the dentist than do their taxes. Yikes! You’re too blessed to be stressed. Eliminate those jitters and take the pressure off by getting ahead.
🔥Bottom line: What will you do with that sweet refund check? We suggest taking it right to the nearest casino and putting it all on black. Baby needs a new Ferrari! We’re joking, of course (maybe). Speaking of fat stacks, would you like a bigger paycheck this year? Check out this article for some salary negotiation tips.
Will you file your taxes early this year?
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