Tax season tips: 'File early, get your money early'
Tax season officially kicks off on January 27th, with the IRS expecting over 140 million individual returns by April 15th. Mark Steber, chief tax information officer at Jackson Hewitt, sits down with Wealth host Brad Smith to share some simple steps to prepare for tax season. Steber notes that, firstly, taxpayers should keep things simple by organizing all tax documents, including any income-related documents, receipts for deductions, and last year's returns. Additionally, Steber emphasizes the benefits of filing early, including quicker refunds and protection from scammers. "File early, get your money early," he preaches, noting that you don't have to be a "financial savant" to do so. "If you file early, or as early as you can, your information is locked up with the IRS," Steber explains. "They lock up your Social Security number, your personal information, significant others, your kids ... so, that scammer that comes in after you — they get denied." Watch the video above to hear Steber's explanation of updates to the 1099-K form as well as tax relief solutions for those impacted by disasters. To watch more expert insights and analysis on the latest market action, check out more Wealth here. This post was written by Josh Lynch
