When Is the Best Time to File Your Tax Return?
The tax law sets deadlines for filing income tax returns. However, there is room to maneuver, and the time you choose to file depends on your personal situation. Here are some guidelines to help you decide on the best time for you to file your return.
File earlyThe filing season for 2011 income tax returns officially opened in mid-January 2012 when the IRS began to accept electronically-filed returns. Most individuals do not file before the beginning of February in order to receive information returns, such as W-2s and 1099s, which are usually sent to taxpayers at the end of January; this information is needed to complete the return.
