Never too early: A mid-year tax checkup may be right for you

JACKSON, Tenn. — We still have a few more months before tax season officially starts. However, now might be a good time for you to schedule an appointment.

Making an appointment this time of year for your taxes could be very beneficial by the time actual tax season roles around. Carl Breedlove, a lead tax research analyst, tells us why.

“So the major benefit is avoiding surprise come tax time,” Breedlove said. “A lot of folks, when a change happens, if you don’t make any adjustments, maybe you did not have enough withheld, and you go to do your taxes and now we have a surprise tax bill.”

Making these changes now can become incredibly beneficial for saving time when tax season begins.

“You can get these changes out on file, that way when we get to appointment time in January, February, March, and those times, the tax person is prepared. They kind of already have an idea that these changes have happened,” said Breedlove.

Scheduling an appointment regarding your taxes this time of year is not just for people who have had major changes. There are other reasons why this may be a good idea.

“A lot of people get notices from the IRS this time of year and they’re not sure exactly what to do,” Breedlove said. “We have offices open where you can come in and we can get you help with those notices. Anything from just figuring out what it is for, to helping you through the process of making sure you hit your deadlines.”

Some other reasons you may want to book an appointment soon are if you have gotten a raise at your job, started a side gig, or had any investment changes.

“A lot of people have major life changes that occur throughout the year,” Breedlove said. “That kind of will affect where they are come tax time. So we want to look at things like did you get married, did you have kids, change of jobs.”

You can also go to a different tax office than you normally use to have what is called a “second look” at a prior tax return. You may have some money left on the table.

For more local news, click here.