What is the effect of waiting until the last minute to file your taxes with TurboTax?

Choosing to wait until the last minute to file your taxes with TurboTax can lead to rushed and incomplete submissions. When individuals rush through the process, they may overlook important details, miss possible deductions, or fail to include all required documentation. This hurried approach can easily result in mistakes or omissions, potentially leading to issues with the IRS, such as delayed refunds or penalties for incorrect filings. Taking time to thoroughly review and prepare the tax return can prevent these problems and ensure a more accurate and beneficial outcome.

While it's worth noting that there are options for extensions, they require additional steps and may not mitigate all the risks associated with last-minute filings. Additionally, waiting too long could limit the opportunity to maximize deductions due to the incomplete assessment of tax situations. Therefore, the best course of action is to prepare and file taxes well before the deadline to avoid the pitfalls associated with last-minute submissions.