Key Points
This article is intended for educational purposes only and is not tax advice. For guidance on your personal situation, please contact a tax professional.
Filing taxes isn’t something most people look forward to. However, getting your tax return in early could work to your benefit.
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks »
The IRS just announced that it will begin accepting 2025 tax returns on Jan. 26 this year. The official tax-filing deadline is April 15.
Image source: Getty Images.
Getting your tax return done early could benefit you
A lot of people procrastinate on their tax returns and don’t submit them until they’re right up against the filing deadline. But if you’re able to get your taxes done in late January or soon after, it could work to your benefit.
For one thing, the sooner you submit your tax return, the sooner you might get your tax refund — if you’re entitled to one. Also, filing your taxes early could help you avoid falling victim to fraud.
If a criminal somehow has your Social Security number, they may try to use it to file a tax return in your name and steal your refund. However, if you file your tax return first, theirs should get rejected as a duplicate.
Of course, it can be tricky to file a tax return in late January because you may not have all of your documents available at that point. So don’t sweat it if you’re not quite ready. The point is, rather, to try to get your taxes filed earlier in the season rather than later.
The $23,760 Social Security bonus most retirees completely overlook
If you’re like most Americans, you’re a few years (or more) behind on your retirement savings. But a handful of little-known “Social Security secrets” could help ensure a boost in your retirement income.
One easy trick could pay you as much as $23,760 more… each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we’re all after. Join Stock Advisor to learn more about these strategies.
View the “Social Security secrets” »
The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.