Employers across the QCA began sending out W-2 forms last month and now many people are heading out hoping to cash in early.
Tax preparers we spoke with say they're seeing people get bigger refund checks than ever before. That's because the government has increased the number of rebates a person can file for on their returns. And as word spreads about the bigger refund checks, more people are filing fast in order to cash in.
"Since the last week of January, it's really picked up," says Marty Riese, a tax preparer at H&R Block.
Riese says customers have been keeping him busy over the past couple weeks. The slumping economy has forced many to do their taxes as soon as possible in order to stay afloat financially.
"We find that there's a lot of people out there who are hurting for money this year, especially those that have taken employment for part of the year," he says.
Now, they're able to cash in on their returns.
"We're finding a lot of the refunds are larger this year than it has been previously," he says.
The government is offering a number of new programs designed to stimulate the economy and get more money back in taxpayers' pockets.
"There's the American Opportunity credit for college students that's been expanded," says Mike Burke, owner of Liberty Tax Services in Davenport. "There's the first time home buyer's credit that's been expanded. There's new car credits encouraging people to buy new autos."
"Earned income credit has been expanded to three dependents instead of two so the ones with three or more children are getting 600-1,000 more," Riese adds.
Tax preparers say not only are people getting more money back, they're choosing to get it earlier as well. Those we spoke with say more people are applying for Refund Anticipation Loans, which will give them the amount they're expected to get back from the government minus a small convenience fee.
"Well over half the people that are coming in today are applying for the Refund Anticipation Loan," Burke says. "They're out of work, they may have rent due or they may have bills that have been backing up on them while they wait to get their return."
While a refund anticipation loan will get you your money sooner, experts recommend waiting for your return if possible. Getting your taxes done by a professional will cost you anywhere from $100-400 depending on how complicated your filing is.
The deadline for filing is April 15th. Most professional tax preparation places will be open seven days a week until then.