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Why is it important to file tax returns early this year?

Filing tax returns early this year is particularly important due to potential IRS staffing changes that could affect processing times. According to personal finance reporter Medora Lee, taxpayers should opt for direct deposit when filing, as this is the fastest way to receive tax refunds. The news anchor emphasizes this point, stating "If there's a year to do it early, it's this year," highlighting the unusual urgency for the current tax season. By filing early and choosing direct deposit, taxpayers can avoid potential delays and receive their refunds more quickly.

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TRANSCRIPT

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04:03

From

Advice on Early Tax Filing and Refunds

CBS News·8 months ago

Answered in this video

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00:17

Who can still claim home office deductions after the 2018 tax reform?

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00:26

Who can claim home office deductions now?

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00:32

What home office expenses can I deduct on my taxes if I work from home?

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00:18

Can self-employed individuals deduct their health insurance premiums for their family members when filing taxes?

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00:07

What is the maximum amount you can deduct using the simplified home office deduction method?

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