Suze Orman TwitterSuze Orman FacebookSuze Orman YouTubeSuze Orman LinkedIn
View Blog & News List

The Most Important Tax Tip: File ASAP!

February 25, 2016 at 12:00 AM

I know you probably can compile a very long list of things you’d rather do than tackle your 2015 tax returns. But please listen to me: procrastination could cost you big time this year, if you anticipate you will be receiving a refund.

The big risk you face is that if you dawdle and don’t get your taxes filed quickly, there’s a chance a criminal could file a fraudulent return using your Social Security number and pocket a refund. This is not some small outlier problem. In 2013, the Internal Revenue Service paid out an estimated $5.8 billion in refunds to identity thieves. That created a major hassle for people whose identities were hacked: when they filed their legitimate return that entitled them to a refund, their return was put in limbo, because according to the IRS, they had already filed a return and the refund had been paid. I want to be clear: the IRS has a system for people to get their refunds if they are ID theft victims. But c’mon, that takes time, and it is an unnerving hassle.

My advice if you are going to get a refund this year is to get your return filed ASAP. Beat the thieves to the punch! And an even smarter move for the 2016 tax year is to do what you can to not be in line for a refund a year from now. You can adjust your withholding or your estimated tax if you are self-employed.

Tag Cloud

responsible with moneydepreciating asset best loan deal 20 to 25 times annual incomeLifestylesave Credit Card Rate Increasecreate new truthfour steps to retirement savings savingssecured cardautomatic paymentmortgage brokerJose Rodriguezno life insurance financially irresponsiblebecome member staycationbad retirement planningadjust allocations US Tax CodeLTC shoppinglow mileage discount20% equityPost-Divorceno sneaking in feescredit reportaccelerate dental workhigh premiumshigh credit score discountexercise reguarlycontribution know before you owelousy investmentlow credit scoreget health insuranceForeclosureHigh FICO Score = Better Rateunsubsidized Stafford loanFederal PLUS loan10% donate to charitycar buying mistakesCredit Card Interest Ratelow-cost index mutual fundDurable Power of Attorney for Health Careworkaholichigh FICO scorerent vs buyARMkids schedule paymentsmortgage disclosureFRABill and PennyStaffords this year have a fixed 6.8% interest rateno late fee car leasingoverspend on dining outCNBCtake actionemotional stakesultimate compounding giftone credit cardis it kind?Teachshop online guaranteed level term policyverify retirement plan with HR or plan sponsorconsider roth 401(k)3% debt transferred don't use allowance as bribeFundsgraduationworst financial mistakeSelectQuote.comhome budget after tax costwomen live longerloan no longer than 36monthspay off debtpresident ObamaBankruptcyCory BookerInfluential Celebritybe true to yourselfFederal Reservefraudulent returnFinancial Solutions For YouFinancial System!00% tuition paidhealthy gumsSchool of Social Workincentives for health care wellness screeningwives should be involved in retirementadvice for college graduatesSatisfyingdon't blow tax refundAuto Savings quick closingHeartlong term caresocial securitydon't cover cosmetic dentistryno negativitydebt freeschool itemized deductionHigh Credit ScoreExhibitionDeath Benefithighest possible benefitconfidentinterest capitalizationWashingtontitle insuranceannual cost of living adjustmenthousing marketWarner Bros Television GroupinsuranceAlarm Clockaffordabilityspeak new goalEasy Life Insurance eliminate credit card debtInvest for savings growthprotect dependent taxesSandy Hook Promise4 Must Have Documents adult childrenprotect loved ones live below your meansunexpected expenseEmergency Savingsrollovermax employee matchpay down student loan debtwomen outlive menfull retirement ageSuze approvedprofessional advisorpublic service loan forgiveness programcredit utilization rateraise your deductibleoverspend on giftsHolidayOverspendingprescription tierFinancialFinancial Awareness Video Festivaleight month living expense financial independence2017 Taxesletter to suzeUrbana-Champaignincrease emergency savingsMoney Marketiffy incomelower mortgage interestage appropriate goalsalways use all paid time offwaive home inspection bidWilllow down paymentAmericans don't use all paid vacation timeBaby Boomerspush yourself to save more for retirementFHA loan feesget the most out of social security LTCEric Dodge pay more than minimummake saving a pleasureFinancial EducatorNewtownsuitableHoliday Seasonmortgagelower interest ratewrite new goalmoney vowsallowance taskpublic service career student loan repayment Most Influential Celebrities Listcredit cardpay credit debt ASAPLong Term Care Insurance Mortgage Credit Availability Indexno private loanenjoy saving repay student loansreal estate marketdebtmonthly dental insurance premiumopen enrollment review high deductible health care planstretch out haircut appointmentsstudent loan repayment planpaid vacationstore credit cardslong-term care increase retirement contribution rateHDHP/HSAraise deductiblesCombo Insurance Productsinitial tax break dear suze20% down payment avoid feesMotherdream schooldon't charge a pennyFree Debt EliminatorRetirement SavingsPBS SpecialNew american Dream do not pay allowance for good behaviorForbescut monthly cellular billfinancial fearsinsurance yearly reviewpremiumhealthy retirement weightlife insurancebuying a carreduce monthly paymentlower rateAARPphysical health30 year mortgage required disclosurewomen longer life spanhealthy aging closing costs 2% of loanbreakdown projected monthly housing costbuy homeloan big picture term insuranceno interestVeterinary SchoolEmployer Matched ContributionInterestpay 100% cashbill paying prioritiespeace of mindGoodbyedebit cardSpendingcouple financesstudent loan debtMust Have Documentsautomatic withdraw to savings doctor no longer in networkcollege studenthome buying mistakesbuy down federal student loan deferment Sandy Hook Elementary SchoolInfluentialsno private loansETF'sWall Streetborrow each year, capitalization is going to pile up don't do five year car loanfinancial goal phrasefinancial concernsave moneydo you need life insurancebe good exampleFederal Funds Raterising home pricesno apologyreduce interest rateprotect your familyStudent Loanhealthy retirement blood pressurehigh down paymentdoctors in networkbest interest rateslet them have 50% controlback door Roth IRAconfident of solutioncompare monthly expensesSuze Ormanhealthy youstandard rateget over life insurance phobiaRoth 401(k)learn good financial choicesallowanceFederal Stafford loannew car3 bucket approachpositiveclosing disclosuresummer job match income cut monthly cable billbig results women long term careRevocable Trustcredit unionhome buying budgetfile taxes quicklyIRA contribution gifted moneyswitch to roth 401(k)fiduciaryleave a legacyhome ownershipCiti Simplicity Card costly insurance mistakeVital DocumentsYoung Adult reduce withholdingAARP Social security calculatorteach your child good money habitsCommencementemergency fund automate student loan payments15-year refinance dealsuccessnear historic lowshigher monthly paymentlong-term care premiumsmeet monthly value moneynot enough life insurancerequire chore in exchange for allowancedental insurance Phyllis Shelton expert long-term carerefundpaid in fullcar loankid borrow firstbetter termsSuze Orman spouse Kathy Travismaintain standard of livingloved ones dependent on incomestudent40% toward financial goalfocus on new truth don't spend teens and moneyBeautyBankretirement plansecure creditCollege of Veterinary Medicinenot gender specific death benefit 20 to 25 times annual incomeMoney-Savingpercentage men widowed 75-84Holiday Shoppingcostly legal retain separate credit cardszero rate transfer dealsonly offered while employed Prime Rate IncreasePersonal Finance50 over 50Minor Children Ashley SpringerRevocable Living Trustreal estate mistakesFICO at least 720Richroth iradangerous retirement planpay down car loanunder 18 financial giftstandard deduction 2015 financial roadmapgay marriage ban end Florida 20% down paymentno waiting periodcharges on credit cardHDHP interest on student loansemployer offered life insuranceback-to-school budgetsocial security never insolventpercentage of women widowed 75-84juggle multiple financial goalsgift not loanSuze changed my lifemultiple lendersverify wellness screening and programsreplace permanent life insurance with termlife insurance name trust as beneficiaryRetirement IncomeGifts2015 record year car salespay high rate off firstspecial saving accountsavings pleasurebe kind to yourselfGay Couplesmax employer matched 401(k) contributionHDHP'scredit managementhome insurancePrime Rate Rise 2015escroworigination feesdental savings planshort term goal community collegereferrals don't defer interest paymentsraising interest ratesstudent loan repayment8 RulesFiscal Responsibilityfamily save at least $100 monthlyLong Term Care shoppingpermanent life insuranceTelepicturesCOLAno retirement funds for down paymentpaying for collegeUniversity of Illinoisfocus on needspoint cost offset by savingshome loan credit score below 740 mobile appdon't ignore open enrollmentclosing feesdon't buy wantsLovegrandparent IRA contribution max benefit coveredlower premium20 year level term increase retirement savingscommitAdequate Auto and Home Insuranceis it necessary?sidelined6 month waiting periodderailed planHDHP's are good for youlowest cost fund option3 savings buckets holiday spendingCD'shome buying seasonincreased auto insurance premiumbudgetLTCi ASAPborrowing plan get credit carddon't derail retirement savingsfile asapSave Us MoneyPay Off Debt Before Retirement2016 adjust estimated taxovercome financial fearsplan740 credit scorekeep a schedulestrained relationshipno tax on withdrawlsmoney-aware childSwap Older Annuities or Life Insurance emergency fund savingshealthy teethcompare provider pricingFICO ScoreHDHP's are not badvalentines dayone annual feeHSA tax savingspay interest while in schoolCPI-Wbuy home you can affordThe Suze Orman Showearn more on savingscollege graduatecontribute household expenses stay positiveno splurge tax refund fraudCivil RightsFinancial Cliffteensloan necessityterm life insurancelong term goalConventional loan PMIengaged in financesschedule vacationprovider of financial supportoverspend on nights outsetup automatic savings withdrawGraceadd teenGay Rightsritual scheduleNew York Lifechildren's bookhigher insurance deductibleretirement accountsbest interest of investordeath benefit needs for familyretirement8 month emergency fundLegal Guardiancan you afford itsame-sex marriagealternative FICO scoremental healthchildren under 18shorter payback periodearn allowanceGiftUniversity of Floridacommissionsbad decisionspurely financial standpoint10 year repayment plan avoid burn outChanging Livesraising mortgage rates marriage inequalityFICO credit score credit card mortgageface your financial fearsame sex marriage band end Floridacalculate dependents annual income needsstudent loan repayment estimatorburn outmanage student loansnegotiate points with bank or sellerSuze Orman Scholarshipidentity fraudrefinancepreexisting condition not coveredcnbc alarm clockuniversal college accesstax ID theftswitch to spouse coveragelower overall drug costbetter loan ratesHow To Build Creditspring summer buying car 2016marriage financial responsibilityfinancial aidfinancial argumentsat worst still pay 75% benefitStudent Debtcomparison shoppingSuze is my biggest mentorFinancial Awarenessnon conventional routeStudent Debt Crisisproperty taxMoney401Kraise insurance deductibleFinancial AdviceCredit scoresmall changes Marlo Thomasretirment savingsprotect and provide for minor child 3 step financial road maponly refinance if it paysheartachesocial workgift up to 14,000balance transfer Final Goodbyeapproved medical 100% tax-freeForbes Top 10affordable premiumARM Cautionteach importance of helping othersLong Term Care premiumsFinancial Gift Cliffignore 6 month grace period 8 month safety netdon't extend mortgage three year car loanAmy Lacyetgift grandchild IRA contributionco-sign 15 year mortgageFinancial Power of Attorneyloan is giftage appropriate chorecommunity bankinsurance mistakeFixed Rate MortgageAccuQuote.commonthly benefit is it necessarybetter loan dealspowerfulno fee transferMass Mutualyours, mine & oursjanuary billsdangerous money seasonSuze Orman's Money WarsCommunication Skills would you decline a bonustoo expensive school401(k) ContributionsOne Wallet At A TimeStock Investmentshome related tax break bonus social security not going brokemortgage interest tax deductiongrandchild summer job IRA contributionSelfish19 years cash flow problemInflation Benefitanticipated salaryidentity thefttraditional vs roth 401(k)is it true? responsible2016 adjust withholdingtelevision hostemployer funding HSAfinancing car dental discount plancost of capitalization calculator

View Blog & News List
People First. Then Money. Then Things.
Connect with me on Facebook Connect with me on YouTube Connect with me on Twitter
© 2017 Suze Orman Media Inc. All rights reserved.
 |  Search  |  Sitemap  |  Privacy  |  Terms
Sign Up For E-mail Offers
Open Panel
Close Panel