WEST SPRINGFIELD, Mass. (WWLP) – Tax deadline day is nearly 3 weeks away, and 22News found out if you have all of your documents, there’s really no reason to wait. But if you haven’t filed your taxes yet, 22News went to Liberty Tax Services in West Springfield to find out what you need to do if you’re in this situation.
“Just go through all your records,” advises Ray Maagero of Liberty Tax Services in West Springfield. “Make sure you start doing it now, because that’s when you really miss the opportunity to take deductions. When you’re rushing around at the end and you don’t have all the information, you tend to make mistakes.”
Maagero said most people wait because they’re afraid they owe money, but you can file your tax return now, and put off paying any tax due until the 15th
Experts say it’s smart to wait if you don’t have all of your information yet. The earlier you file, the sooner you get your refund and reduce the risk of identity theft.
Experts recommend having a professional file your taxes if you had any life changing events over the year, whether that’s getting a new job or having a new baby. They’ll help you find those benefits that you might not know about. But Maagero says if you’re confident in filing your taxes yourself, go ahead. It stands to reason, if you’re getting a refund, why wait?
Elizabeth Song of South Hadley told 22News, “I like to file as soon as possible to ensure that I get my money back as soon as possible. There seems to be less lag with the Internal Revenue Service in that way, in case there’s any snags in the actual tax preparation or anything like that.”
If you’re not ready by April 15th, you can ask for an extension to file, but any taxes you owe still need to be paid by the 15th to avoid penalties and interest.
Experts say to be mindful of any recent tax law changes that can complicate the filing process.