Unlocking your most significant payday could be just one 2023 tax filing away. Opt for an early filing to expedite the process and receive your refund sooner.

 As we approach the dawn of a new year, there's a crucial task lingering from 2023 that demands attention: your taxes.

Typically, tax season kicks off in late January when the IRS officially commences the acceptance and processing of tax filings. The deadline for filing is usually April 15, unless it coincides with a holiday or weekend, affording individuals additional time to complete their tax submissions.



Experts strongly recommend that individuals take proactive steps to prepare and file their taxes sooner rather than later. One compelling reason to do so is the potential for a quicker receipt of tax refunds. Despite a slight decrease in refunds last year attributed to diminishing pandemic benefits, professionals anticipate a possible uptick this year due to adjustments for inflation. Mark Steber, Chief Tax Officer at tax preparer Jackson Hewitt, noted, "Refunds were down a little last year due to waning pandemic benefits, but I think it has settled and may be up because of inflation adjustments."


In the previous year, the IRS reported that the average tax refund, as of the April deadline, amounted to $2,753. This figure marked a decrease from the preceding year's average refund of $3,012. The drop was notably attributed to the absence of pandemic-related benefits that had previously contributed to boosting tax refunds.

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