6 Reasons You Shouldn’t Procrastinate on Your Taxes

6 Reasons You Shouldn’t Procrastinate on Your Taxes

Federal taxes aren’t due until April 18 in 2023, and you might be tempted to wait until the last minute to file. But putting off filing your taxes may not be the best decision. Here are all the reasons why you shouldn’t procrastinate on this yearly chore.

You’ll Have Time to Choose the Right Tax Prep Software

If you wait until the deadline to file your taxes, chances are you’ll settle on the same tax software you used last year. There’s no time to comparison shop when you’re up against the clock. So, you’ll likely end up paying more to file your taxes, or you won’t get the free features you could have.

One affordable, user-friendly option to consider this year is TaxAct. In addition to its free file option for simple returns, TaxAct offers Deluxe, Premier and Self-Employed tax prep products. This is essentially the same tiered system offered by the other major services, except each of TaxAct’s federal filing products is priced noticeably below many top competitors.

TaxAct also provides live expert help to all filers for free. The service, called Xpert Assist, gives you unlimited live assistance from tax experts. They’ll answer any questions you may have, and they’ll also perform a quick review before you finish filing. TaxAct makes it easy to import last year’s returns if you used another tax service, and most tax forms are also easily importable.

You’ll Have More Time To Double-Check Your Return

It can be easy to forget about a deduction when putting together your tax return. If you start working on it early, you’ll have more time to review it and correct information if needed to ensure you get all the deductions you’re entitled to.

In addition to missing out on deductions, you’re more likely to make errors if you’re in a rush.

To continue reading, please go to the original article here:

https://www.gobankingrates.com/taxes/filing/reasons-shouldnt-procrastinate-taxes/