filing taxes early?

[KingKoopa]

for the last few years, i've usually done my taxes online as soon as i get my W2, around early february... it's been nice, since i get my return quickly, and my taxes are relatively simple (no kids, wife, relatively little debt, etc)

anyhow, i've heard rumblings of this relief bill that may be passing out of the senate soon and i'm wondering if it would be advantageous for me to wait to file my taxes or if it would make any difference?

thanks in advance.

 

[BattleshipTexas]

I don't think the relief bill will be for 2007 taxes. Instead it will be for 2008 taxes and they will send a check to all previous years filers for a partial refund of their withholding for 2008. That's how it was done in 2001. I wouldn't hold up my return. There is no way they will penalize you for filing early.

 

[mishatx]

The relief will be handled by mailing out checks that are either refunds on your 2008 withholdings (like 2001) or advances on a tax credit for 2008 (which is the only way the current version of pay-people-who-don't-pay-taxes-but-not-high-income-earners works).

No effect on 2007 tax. Send in the form and get your own money back now.

 

[Lat22]

Those sons of ******* aren't sniffing my check until April 15th.

 

[KingKoopa]

thanks for the responses, gentlemen. i'll go ahead and take care of it today.

lat, i don't blame you--i would have a hard time sending the check at all if i owed. of course i would, but it would really hurt.

 

[DCLonghorn]

Filed my taxes last week via Turbotax on-line and should receive my money via direct deposit next Friday.

 

[jmatt]

We did good on our taxes this year, we wrote them a check for a whopping $34. Mailed this morning.