It may seem like tax season is still far away, but with the IRS’ recent announcement that they will start accepting taxes for 2019 as early as January 27th, 2020, right now is the best time for early tax preparation and to look for high-quality income tax services in Michigan. Are you residing in Troy, Bloomfield Hills, Birmingham, Macomb County, Oakland County or Rochester, Michigan? E&Y Insurance Agency doesn’t just offer insurance services such as car insurance and homeowners insurance, we also take care of a number of your tax services, such as tax preparation and income tax services.

Learn more about the services offered by E & Y Insurance Agency.

Here are a few reasons why hiring income tax services early is a good idea…

Early Tax Preparation May Mean Larger and Earlier Tax Returns

Often-times, working with professional income tax services to file your taxes as soon as possible, means that your hard-earned tax returns will get sent to you earlier as well. Research has also shown us that those taxpayers that file early also tend to get larger tax returns on average. The reason? Perhaps when you have more time to go over your previous years’ financials with your tax professional, you’ll be more relaxed and less likely to miss any details. Your tax professional will also have more time to gather all the necessary documents and information to make sure that you are getting the most out of your annual tax return.

Filing Early Protects You Against Identity Theft

Unfortunately, identity theft is something that can happen to taxpayers during tax season. A common scam is for criminals to obtain your social security number and use it to pocket your tax returns. This type of criminal activity often happens early in the tax season, well before the average person files their taxes. By seeking out income tax services as early as possible, you’ll be more likely to protect yourself against fraudulent tax returns on your behalf.

Early Tax Preparation Gives You More Time to Make a Financial Plan

If you owe money to the IRS rather than receiving a tax return, there is still a good reason to get your taxes filed as soon as possible. By filing in January or February, rather than April, you’ll be aware of how much you owe early on and you will not have to pay taxes to the IRS until the deadline in April. Working with professional income tax services, also means that you will most likely be able to minimize the amount of taxes that you owe. Together with your tax professional, you’ll be able to find opportunities that you may have overlooked on your own, and possibly be able to owe less.

Don’t get stuck with last-minute tax woes in 2020. By getting started on your income taxes early this year, you may get a larger tax return earlier in the year, you can protect yourself against fraudulent tax returns and other forms of identity theft, and you’ll be able to better plan a financial roadmap in case you owe any money to the IRS. For high-quality income tax services, call E&Y Insurance Agency today 248-671-6860 or fill out our contact form.