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Are you feeling the stress of approaching tax season? You’re not alone; each year, millions of Americans find themselves scrambling to file their taxes by the April deadline. But it doesn’t have to be a frantic race against time. This year, why not take a proactive step and file your taxes early with help from Jackson Hewitt?
Mark Steber, Chief Tax Officer at Jackson Hewitt, emphasizes the importance of early filing. “Make a commitment to file your taxes now,” Steber advises. Utilizing the services of a tax professional helps ensure that you not only meet the deadline but also maximize your refund and avoid pesky penalties.
Here are some compelling reasons to file your taxes sooner rather than later:
- Receive Your Refund Sooner: Early filers often get their refunds faster, which means more cash in your pocket when you need it most.
- More Time to Prepare: If you owe taxes, filing early gives you additional time to gather your finances and prepare for payment.
- Avoid Identity Theft: Filing your taxes early can help prevent identity thieves from claiming your refund before you do.
- Reduce Stress: Avoid the last-minute rush and the potential errors that can come from hasty filings.
- Access to Financial Insights: Early tax filing provides essential information for significant financial decisions you might consider throughout the year.
Now, you may be wondering, what if you can’t file your taxes by the deadline? Jackson Hewitt also provides guidance on how to handle this situation effectively. You can request an extension, but it’s important to note that an extension to file does not mean an extension to pay. You’ll still need to estimate and pay any taxes owed by the original deadline to avoid penalties and interest.
Why should you consider using a Tax Pro from Jackson Hewitt? Here are five reasons:
- Your Biggest Refund, Guaranteed: Jackson Hewitt stands by their promise that you’ll receive the biggest refund possible, or they’ll pay you $100.
- Friendly, Local Tax Pros: Their team takes on the heavy lifting so you can rest easy.
- Accuracy Guaranteed: Jackson Hewitt guarantees that your return is right for life.
- Over 40 Years of Experience: With more than 65 million returns filed, you’re in trusted hands.
- Convenient Locations: Jackson Hewitt offices are open evenings and weekends, making it easy for you to get in when it suits your schedule.
It’s essential to remember that major life events can influence your tax situation significantly. Changes such as marriage or divorce can alter your filing status and potential deductions. Having a child may qualify you for credits like the Child Tax Credit, while buying a home might allow for mortgage interest deductions. Similarly, starting that side hustle? You’ll need to report that income and may have to pay estimated taxes.
Be aware of tax law changes, as they could also impact your return. Adjustments like standard deductions and tax brackets due to inflation can affect your taxable income. Delaying your filing can result in significant penalties too, ranging from 5% of unpaid taxes for each month your return is late (up to 25%), to 0.5% of unpaid taxes for each month that remains unpaid.
Before you rush into filing your taxes, remember Steber’s caution: “If it sounds too good to be true, then usually it is.” Don’t leave your finances to chance; make sure you file now with a Tax Pro to secure a smooth tax season.
Visit Jackson Hewitt’s website or call 1(800)234-1040 to find an office near you and get started today!
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