Why It’s Important To File Your Taxes On Time?
The Importance of Filing Your Taxes
Nothing beats the feeling of having your taxes filed early enough. You may opt to pay someone to do the tax returns for you. Alternatively, you can still decide to file your taxes by yourself. Regardless of the method you use, filing tax returns is probably not one of the favorite chores you look forward to. You can avoid IRS anxiety by filing your taxes early using MWB Tax Solutions.
Here is why you need to be the early bird when it comes to tax filing:
1. Avoid Tax-refund identity theft
When a person files a tax return using your personal information in an attempt to get a tax refund, we refer to that as tax –refund identity theft. Identity thieves only need your name, Social Security number, and your birth-date to file a tax return in your name. The Internal Revenue Service, therefore, advises that the best way to avoid this is by submitting your tax early enough.
2. Obtaining financial information
Are you planning to go back to college or buy that house of your dreams? Well, you might have to think again. Students seeking financial aid for their college fees have to feel a Form 1040 with your tax information. Prospective home-buyers, on the other side, have to produce their completed tax return as proof of their household income.
3. Avoiding a tax extension
If you wait till the last minute to file tax returns, you may be forced to file an extension. You will need the help of a tax professional to help you with the filing. Worse still, the IRS will charge you interest and penalties on the outstanding tax debt.
Why Use our MWB Tax Solutions?
MWB Tax Solutions will help you settle your debt with the IRS, and get you current with your back taxes. We will take up the whole process of filing your tax returns as you engage in other activities. Contact us to get started.