Tax Season

Why you should file your taxes as soon as possible

When it comes to filing taxes, it’s easy to procrastinate. For some, pouring over paperwork and stressing about whether or not you’re going to get a refund is an activity best saved for a later date (preferably April 14th, i.e., the day before this year’s deadline).

The problem is that waiting comes with consequences. Not only do you become vulnerable to security risks, you may incur annoying fees as well (and paying additional costs if you already owe money to Uncle Sam is like adding salt to your financial wounds).

Want to avoid all the extra stress? Check out these persuasive reasons to file your taxes ASAP:

Reduce risk of identity theft

Unfortunately, tax identity theft is a real thing. It works like this: scammers access your personal information, file your tax return before you do, and happily claim your refund on your behalf.

Typically, most employers provide you with all necessary tax paperwork by the end of January. The best way to protect yourself against tax theft? File as soon as possible. Claim your refund now to keep thieves away from your hard-earned return.

Avoid late fees
That April 15th deadline? It’s serious. To ensure people file on time, the IRS can hit you with a financial penalty. If you do file but don’t have the cash to pay what you owe, you can incur a fee for that as well. However, the IRS offers payment plans for people who can’t afford to repay at the time of filing.

Save on tax prep services
Tax time doesn’t have to be stressful!  With TurboTax, you’ll get your biggest possible refund fast and your taxes done right. Plus, AMOCO members can save up to $15 on TurboTax federal products, all through tax season.

Bottom line? To avoid the costs, security risk and anxiety of a last-minute filing, finish your taxes as soon as possible.

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