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Although April 18 is the deadline to file the tax return, complying with this obligation in advance offers some advantages that should be taken into account.
Option to choose the most suitable software
When a taxpayer choose to comply with the tax declaration weeks before the end of the period established by the authorities, You have the advantage of choosing the software that best suits your ability to carry out the process.
The closer you get to the last day, the risk of ending up using last year’s software is latent and this may mean wasting the opportunity to discover more advanced ones and perhaps even easier to assimilate.
It should be noted that There are free features in upgraded versions of software, but by not looking for them calmly, you tend to miss them.
This year, TaxAct Holdings, a specialist tax preparation software company, offers Deluxe, Premier and stand-alone tax preparation products, all at a lower price than other companies.
In addition, it provides free help from live experts willing to support whoever requires it by quickly reviewing the tax return before it is sent to the authorities.
Longer time to verify the declaration
Preparing the statement in advance allows you to review and correct the information to make sure you get all the deductions to which you are entitled, because in case an error is made by mistake or haste and this can mean being audited or getting a large and unexpected tax bill.
Contingencies on the deadline
As the deadline to file taxes approaches, there is a risk that something will arise. and this could mean getting out of step with the process with the latent probability of forgetting to claim deductions or making a mistake.
Penalties for missing the deadline
Missing the deadline to file a statement implies becoming creditor to a fine corresponding to 5% of the unpaid taxes for each month that the process is delayed.
Declaration on time reduces the possibility of tax fraud
It is proven that most tax fraud on tax returns to claim reimbursement checks resulting from other people’s deductions, they focus on taxpayers who completed the process on the due date.
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