Tax expert shares tips on scams, filing early
JACKSON, Tenn. – With tax season right around the corner, WBBJ 7 Eyewitness News Reporter Ryan Hodges spoke with an expert on what we should look out for this year.
Mark Steber, the Chief Tax Information Officer with Jackson Hewitt Tax Services, says it is best to file them as early as possible. If you do get a return, you will see that money earlier.
He also has another important reason for why we should file early.
“Secondly, and equally important I would say, is with so many bad scammers and stealers and schemers out there stealing data and buying it on the dark web, if you file your taxes early, you lock up your data with the IRS and lock up your data, spouse’s if you have one, and dependent,” Steber said.
If you lock it up early, someone else cannot steal your data and steal your refund. Also, if you file early and owe some money, you have more time to save that money for you to get it paid. Steber says there are some changes this year like the standard deduction, as well as a few others.
“There were new tax rate brackets put in to reflect inflation, and that should help people with lower tax rates. A little bit, but it adds up. Thirdly, there were some green energy credits that were put into place: If you bought an electric vehicle, or you did some home improvements to your home with alternative energy, or heat windows or insulation or those types of things, and just a matter of other things if you are self-employed or have a small business,” Steber said.
Sometimes gathering all of the information you need can be frustrating. Steber has an important tip for you.
“It’s important to be organized. Now that’s not the same as having some complicated, convoluted situation where you’ve got file cabinets, an administrative assistant, and artificial intelligence regenerative keeping track. No. Keep it simple because people can execute on simple,” Steber said.
Steber says three out of four Americans receive a return on their taxes.
According to the IRS, January 29 is the start date for individual tax returns.
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