No matter what holidays you celebrate, there is a very good chance that, from about November to January, you spent a little more than you should have. The good news, though, is that, if you play your cards right, there could be a nice tax refund coming for you soon- a refund that you can use to pay down some of your debts and get yourself into a better place post-holidays.
One of the first steps toward successfully using your refund to pay down holiday-related debts is to ensure that you file your taxes as soon as you possibly can. Work with a tax professional to determine the earliest date that you can file, and then get it done! The sooner you file, the sooner you can use your refund wisely.
Consider E-Filing
In addition to filing your taxes as early as possible, you will also find it helpful to electronically file or to “e-file” your tax returns.
When you do electronic filing, all it takes is a few clicks and a little data input on your part or on the part of your accountant or other financial professional, and you can be well on your way to getting your refund!
Do Use Direct Deposit
Another simple way to ensure the speediest return possible is to choose the direct deposit method when you select how you will receive your return funds.
When you choose this option, you don’t have to wait for the IRS to get around to cutting a check and sending it to you. Instead, as soon as your return is processed and ready, it can immediately be put into your bank account, allowing you to get and (responsibly!) use your money much faster.
As you can see, there are definitely ways to get your return as soon as you possibly can, and doing so, especially with the help of a qualified financial professional, will ensure that you can use that money to pay off any overspending you may have done over the holiday.
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