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Why you should file early as tax season officially begins



WASHINGTON (WJLA) - Welcome to tax season! Monday is the first day the IRS will begin accepting 2017 tax returns.

This is a little later than usual and people have until April 17 to submit them but there are two good reasons to get taxes done as soon as possible.

If someone is due a refund -- eight out of 10 people are -- the quicker taxes are filed, the faster those people will see money back in their pockets. The other big reason is that filing quickly is a highly effective way to prevent identity theft. The agency warns this crime is on the rise. Last year the IRS thwarted nearly 800,000 phony returns. This year, people will actually see a verification code box on the corner when e-filing.

Here is a quick checklist for what people will need:

  • A W-2 form shows your wages, salary and tips paid to you in 2017
  • A 1099-G shows payments received from government agencies, like a tax refund or unemployment compensation
  • Form 1098 shows mortgage interest paid

Property taxes and charitable donations should also be included. Most importantly, people should file quickly but only when they are ready.

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