Every taxpayer in the United States has an annual obligation with the IRS. Tax filing is mandatory throughout the United States of America and it does not matter what state you live in.
The obligation as a U.S. citizen is to make a payment to the IRS at tax season. This causes the money to be invested later in benefits for ourselves. However, not all citizens know when it is best to make this tax return.
If we talk about dates in terms of tax filing and the season that the IRS opens, any date is good. The earlier the better. At the end of the day, the best month to file will always depend on each personal situation. Still, it is true that each situation has its advantages and disadvantages and each different month can be better or worse depending on this situation. When is it best to file your IRS tax return?
Months to file your IRS tax return
There are three months in total in which we can file an IRS tax return. Each of these months are ideal for a certain group of citizens. Therefore, the best month to pay taxes will depend on your personal situation.
Taking into account that the tax season has started on January 23rd, it is already possible to file a tax return. So let’s look at the months and what are the advantages of filing in each of them.
- January. This is the first month in which we can make the declaration. While it is true that it is only a few days from the end of the month, it is ideal to try to file our taxes with the IRS in this month. The sooner we file our taxes, the sooner we can get the tax refund in the future.
- February. There are times when it is necessary to wait for a stimulus check that is on its way or even a document informing us that we have to pay taxes on some type of income. In that case, it is better to wait until the end of February to make the declaration. This way we will make sure that we do not leave anything undeclared to the IRS.
- March. This is the last full month to file your income tax return. The disadvantage of doing it here is that it will take longer to receive the tax refund. This is because the IRS will already be processing all previous returns. The good thing about filing this month is that we have more time in case we have to pay taxes.
- April. Last month to file the return. April 18, 2023 is the last day to pay taxes. The IRS will not receive returns after this day, with exceptions. This month is recommended for taxpayers who expect to have to pay a lot of taxes or need to gather a lot of information.
These are the months to file a tax return with the IRS.
The best month to do the tax refund
As a final conclusion, we can say that the best month to file the IRS tax return is the month of February. This is because we have enough time to be able to organize all our expenses, income and documents.
If we file in January, we may do it too quickly. For that reason, it is advisable to wait to gather all the financial information and then file the return. In addition, if we file our tax return in February, it is very likely that we will receive an early tax refund.