With tax season coming up it’s important to face the chore that awaits you: filing your taxes. Every year comes with at least a few changes to the tax code and it’s a good idea to be aware of these so you can plan ahead. If any of these changes will affect how you file and what you will end up paying in taxes, you may want to know that a tax refund advance can be a part of your plan. You can get money in advance of your refund and put it to good use.
Paying More in Healthcare Penalties? Get a Tax Refund Advance
In a lot of ways tax changes are positive this year. Many deductions and exemptions are going up, as well as the earned income credit. This could save you money, but there is one penalty that is also increasing. If you have not purchased healthcare through the Affordable Care Act, or don’t have insurance through your employer, the penalty is several hundred dollars. Can you afford not to have health insurance? If you aren’t getting insurance and are facing this steep penalty cost, consider using a tax refund advance to help you get by. Paying fines and taxes can take a big bite out of your paycheck, so relying on a quick source of ready cash may be important for you. You can get a tax refund advance at the last minute to take care of these kinds of costs even as you come up to the deadline.
Tax Day is Later, but Don’t Procrastinate and Get a Tax Refund Advance Now
Another important tax change this year is that it isn’t April 15. This tax day falls on Emancipation Day and whenever it hits a federal holiday, you get a break. This means you have until April 18, a Monday, to get your taxes filed. Although this may give you a little breathing room if you’re the kind of person who likes to put chores off to the last minute, the smart move is not to procrastinate. No matter when you eventually get to your tax filing, you should not hesitate to take advantage of a tax refund advance whenever you need the extra cash. You can even apply for the advance right now and start spending your tax refund months before you get your tax filing done.