Don’t Delay, Get Your Tax Refund Now!

This post is the eighth in a series of weekly posts containing tax information and filing tips. Check back next week for our next post, or click here to read past posts. 

April 15th is fast approaching, which means the time to file your taxes is running out. I know what you’re thinking – “I’d rather watch paint dry.” I felt the same way. Filing my taxes ranks high on my list of most boring life activities, but unlike waiting in endless airport lines or sitting in traffic, it comes with a great reward.

After filing my taxes, I felt accomplished – I crossed off a big item on my to-do list, I was now compliant with the law, and I had fulfilled my civic duty. But best of all, I knew I had a nice refund coming my way. Little did I know how quickly it would arrive. I filed my federal tax return online on March 26 and by April 3 the U.S. Treasury Department had deposited my refund into my bank account.

This speedy turn-around time is a particular boon for tax filers who are eligible for the Earned Income Tax Credit, the Child Tax Credit, the Child and Dependent Care Tax Credit and other state credits that help low-income families make ends meet.

So the calculation is simple: the sooner you file your taxes, the sooner you’ll receive your refund. And the sooner you receive your refund, the sooner you can catch up on bills, make important deferred purchases, or stock away savings for a rainy day.

To learn more about family tax credits visit nwlc.org/loweryourtaxes.