Here’s why parents should file their taxes early

When tax season starts, you may want to consider filing your tax return as early as you can.

Parents can often benefit from filing early, but this year in particular, there are a few reasons why they may want to file their 2021 taxes as soon as possible.

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You benefited from the advance child tax credit

In lieu of more advance payments, parents can at least file their tax return sooner so they can receive the rest of their child tax credit.

You didn’t get your full stimulus check

If you didn’t get your check or got less than you should have because you had a child in 2021, you can receive your full payment by claiming the recovery rebate credit on your tax return.

You’re expecting a refund

To get your refund as fast as possible, the IRS recommends e-filing and electing to receive your refund by direct deposit.

Filing early can help protect you from identity theft

One type of tax fraud and identity theft that criminals use is to file a return with a stolen Social Security number so they can claim the refund early in the year.