1. Get Your Refund Faster
Since many people tend to procrastinate, you can get your refund much sooner. The fastest method to receive your refund is to file electronically and have your refund deposited directly into your WCFCU account with direct deposit. Working with Winslow Community FCU, the IRS will transmit your refund directly to your WCFCU account. Our routing number 211288970 and your account number are all you need. Simply see the instructions on your U.S. Individual Income Tax Return form, and fill in lines 20 b, c, and d. It can take several weeks longer if you opt for a paper return.
2. More Time to Pay
If you end up owing a balance to the IRS, you will have a lot more time to save money for your payment. If you file in January, you have around three to four months of extra time that you wouldn’t have had if you had filed later. Filing early will let you know exactly how much you owe to the IRS.
3. Easier Scheduling a Tax Preparer
Accountants and tax professionals are also first come, first serve. Their schedules can fill up by the time you reach out to them if you wait too long. If you aren’t completely confident when filing your taxes, hiring someone can help you accurately complete your form.
4. Prevent Identity Theft
As soon as a criminal gets access to your Social Security Number, they can do a lot of damage. If they file with your Social Security number before you do, the IRS will decline your return since their records show you’ve already been paid. You haven’t, but the criminal has been. It can take months to clear this up with the IRS. If you can, file your taxes early and prevent the fraudsters from successfully filing a fraudulent return.