The 2023 tax season typically opens in late January and closes until April 15 to submit your taxes. However, people are urged to prepare now and process them as soon as possible to get their refund quicker.
File your 2023 taxes early (Photo: whichfranchise.co.za)
Professionals Urged to Wrapped Up Their 2023 Taxes
As another year approaches, many professionals are urged to wrap up their 2023 taxes to get a refund quicker.
According to Yahoo Finance, the 2023 Taxes can be filed in late January when the IRS officially starts accepting and processing tax filings until April 15. This gives more time for people to submit their 2023 taxes.
Last year, the IRS reported that the average 2022 tax refund received by taxpayers by April was $2,753, reflecting a decrease from the 2021 tax average of $3,012. It was noted that this was due to the pandemic-related benefits that boosted the refunds in 2021 taxes.
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Why You Should File Your 2023 Taxes Early
According to USA Today, a refund is usually the biggest incentive to file your 2023 taxes early as three out of four taxpayers will likely get a refund. However, there’s more to it than this one reason!
Firstly, once you have filed your 2023 taxes, no one will be able to steal your information and try to file on your behalf and steal your refund. Secondly, If you make mistakes in filing your 2023 taxes, you will have more time to correct them, and lastly, if you owe money, you will find it out sooner than later and you can come up with the money.
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