TMG TAX TIPS:
5 REASONS TO FILE EARLYThe Internal Revenue Service started accepting tax returns for 2018 on Monday, January 28 – which means Tax Season has officially begun! Here are some reasons to consider filling early this year:
FASTER REFUND OR EXTRA TIME TO PAY
One of the top reasons to file early is because you’ll receive your refund sooner. Alternatively, if you owe a balance to the IRS, you’ll have more time to plan how to fund your tax bill.QUICKER ACCESS TO YOUR ACCOUNTANT
Providing your information earlier in the tax season allows for quicker turnaround times because your accountant can complete the return before the rush from other clients. It’s also likely they’ll be more readily available to quickly address any questions you might have.BETTER PROTECTION FROM IDENTITY THEFT
While filling early doesn’t guarantee you’ll be completely safeguarded from identity theft, it does reduce the risk because if you file first, a fraudulent filing using your same social security number will be rejected.HEAD START ON TAX-RELATED TRANSACTIONS
If you’re planning any financial transactions that require your return, for example, applying for a home loan or financial aid, you’ll be able to complete those transactions sooner.MORE TIME TO REVIEW FOR ERRORS
Even if an accountant prepares your return, the IRS still holds you responsible for reviewing it to ensure accuracy before you sign it. Filing early allows ample time for you to closely review before submitting.NEED TAX HELP?
When planning for retirement, you need a focused and experienced eye on your taxes. The Mather Group’s in-house Tax Team provides clients with valuable tax strategies and support. Contact us today to learn more.The opinions expressed, and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. The opinions and advice expressed in this communication are based on The Mather Group’s research and professional experience and are expressed as of the publishing date of this communication. The Mather Group makes no warranty or representation, express or implied, nor does The Mather Group accept any liability, with respect to the information and data set forth herein. The Mather Group specifically disclaims any duty to update any of the information and data contained in this communication. The information and data in this communication does not constitute legal, tax, accounting, investment, or other professional advice nor is it intended to provide comprehensive tax advice or financial planning with respect to every aspect of a client's financial situation.
