This infographic is making the rounds on the internet and its faulty logic has finally driven me to the brink. It implies that by filing early, you’re more likely to get a refund. Well: that is just not true! When you file your taxes has nothing to do with how much you get back (or owe). It’s true that early filers are more likely to be people who are getting refunds, but this is for some pretty obvious reasons, such as: if you owed money to the government, why would you be in a rush to pay it? While at the same time: if you are getting a refund, wouldn’t you rather have that money sooner?
So here’s something that is actually both true and helpful: If you are getting a refund and file early, you will get your money faster than if you wait until the deadline. Also, getting your refund by direct deposit will also speed up the process.
