TaxAct Encourages Taxpayers to File Returns Early
As the IRS Begins Processing Returns and Refunds, TaxAct 2015 Products Make Filing Early Easy, Fast and Affordable
Cedar Rapids, Iowa – January 19, 2016 – TaxAct®, the leading provider of digital and download tax preparation solutions, began submitting 2015 federal and state e-filed returns to the IRS today, helping filers get their maximum refunds fast. Now that the 2016 tax season is officially underway, TaxAct encourages filers who haven't yet started returns to get a jump start on their taxes and file early. The quickest way for filers to receive their refund is to e-file and have it direct deposited. TaxAct makes it easy for taxpayers to file early with its 2015 suite of products, including TaxAct Online Free, the no cost way to prepare and file simple federal (1040A and 1040 EZ) and state returns.
"At TaxAct, we understand the difference a filer's refund can make in their finances. Many use this money to pay down debt or to help cushion emergency funds," stated JoAnn Kintzel, TaxAct president. "That's why our mission is to make tax preparation and filing as quick, simple and affordable as possible. The sooner filers can get their money back, the better."
Choosing to file early has many added benefits, including:
Help with financial aid
College students and taxpayers with college-aged children benefit from filing returns early because their final tax information is used to apply for financial aid. When completing the Free Application for Federal Student Aid (FAFSA) form, much of the information required is pulled from an income tax return.
More time to catch potential mistakes
By diving into tax preparation early, filers have more time to request any missing documents they may need and work through any complicated filing situations. Filing early also gives taxpayers more time to review their entries for mistakes and identify each credit and deduction for which they may be eligible. Filers who use TaxAct benefit from Alerts, which inspect their returns for any errors, omissions and valuable tax-saving opportunities they may have missed.
Extra time to pay taxes owed
Submitting a return early gives taxpayers advance knowledge of their tax outcome. If taxes are owed, they have until the filing deadline of April 18, 2016, to submit payment to the IRS. Filing early gives taxpayers extra time to get funds together so they can pay their tax bill. If needed, taxpayers can request a payment agreement from the IRS but only after all required returns are filed.
Reduce the odds of tax return identity theft
The sooner a return is filed, the less opportunity there is for someone to file a fraudulent income-tax return in a legitimate tax filer's name. Once someone gets access to a filer's personal information, including a Social Security Number (SSN), they have everything necessary to submit a return and beat the true taxpayer to the IRS. Filing early can help reduce that likelihood. If a taxpayer discovers someone else has already filed a return using their information, TaxAct will assist them via
Identity Recovery powered by InfoArmor, a service that will navigate the resolution process on the customer's behalf. The identity recovery service in included with TaxAct Basic, Plus and Premium products for no additional charge.
According to the IRS, about 20 to 25 percent of all taxpayers wait until the last two weeks to file their returns, leaving little time to take advantage of the benefits of filing earlier in the season. TaxAct is ready to help taxpayers file early and maximize deductions and credits for the biggest guaranteed refund. All TaxAct products are updated with the final IRS forms and extender tax law changes, making tax preparation and filing easy, fast and affordable.
Customers also benefit from TaxAct's Price Lock Guarantee, which ensures they never experience an increase in their price between the date of registration and the day they file their return when they use the company's online products. As one of the only major online tax software providers to offer a Price Lock Guarantee, TaxAct promises its customers will pay the price listed for their selected online product at the time they start their return, no matter when they choose to file. The company also continues to provide its long-standing Maximum Refund Pledge as well as its Accuracy, Satisfaction and Money-Back Guarantees.
About TaxAct
Contact
Shaunna Morgan
TaxAct Public Relations
(319) 531-3626
