Starting next week you can begin e-filing your 2019 taxes. While you have several months to get the job done, local tax preparers share some reasons why you may want to file as early as possible.
Our first open day of electronic filing is January 27.
Timothy Ness with Ness Tax and booking service is getting ready for his busy season.
“We experience two major waves, the first one is that last week of January, first week of February when all the W-2s hit the mail and 1099s, that’s usually even our biggest first wave and the second wave comes later in the year in the first two weeks of April,” Ness said.
Ness says people expecting a refund usually file right away while those who think they’ll have a tax bill usually wait until April to file.
“A lot of folks who think they might owe might want to come in and find out exactly how much they owe, sometimes people come in anticipating they might owe the IRS money when in fact they’re getting a refund,” Ness said.
But its not the main reason Ness says everyone should file their taxes as soon as possible.
“The first is to avoid fraudulent use of your Social Security number, so you want to get your return filed early so it goes through the system and the computer will no longer recognize that Social Security number,” Ness said.
He says the IRS is also taking some extra measures this year to help prevent identity theft.
“You can expect delays in your refund this year if your refund contains items like the earned income credit or the American opportunity tax credit because those items have been subject to fraud and abuse and the IRS wants to slow down those refunds to make sure the right people get those refunds,” Ness said.
While you want to file early, Ness also warns not to file too early in order to give the mail service enough time to deliver all of your documents. If you receive additional documents after you file, you may have to file another amended return.