Over Half Taxpayers in US File Returns in January, Don't Be Alarmed Because You Can't Join This Group

People who file their taxes in January are usually people who only have one W2 and the same one or two kids they had last year. Usually it is about the EIC credit (Earned Income Credit) and a check of $1500 to $3500 is expected. It is a part of their budget and they have their refund within 10 days of e-filing. Usually.

However, for people who have to wait for Interest Income, stock transactions, mortgage interest, or any information from financial institutions, you must wait until after January 31. (By law they have to send the information by January 31)

Over 50% of all taxes are filed in January and the first week of February, while the rest of you, must muddle over documents, which make you believe we may owe more than we thought.

Don't be alarmed, if you aren't a part of the January wave of tax returns filed. For many taxpayers, filing later, rather then earlier is a plus.