Many filing earlier hoping for faster refunds

Anxious to get hard-earned money back in their pockets, Americans are filing their tax returns earlier than ever.

The National Retail Federation reported that of those expecting a refund, 71 percent will have filed by the end of February.

"People are filing as early as they can," said tax consultant Robert Schwartz of Libertyville. Operating his business in Lake Forest, he expects about a third of his clients filed earlier this year than in the past.

"Many families, eagerly anticipating extra cash, are filing taxes earlier this year," said NRF President Tracy Mullin.

In addition to filing earlier, people who expect a refund are much more likely to file online, another indication that taxpayers eager to get money back from the government want it as soon as possible.

Those with simple tax returns are more likely to do it themselves to save money.

Some high volume tax preparation services are reporting a decrease in business as they expect more people are filing taxes themselves online.

Mike Moseberry from H&R Block in Libertyville believes more people are doing their own taxes. He expects business is down about 20 percent over last year.

"The economy is hurting us," Moseberry said.

Tax preparation places charge about $80 for a simple return.

About half of Americans do their own taxes, either by hand (13 percent) or with computer software (32 percent), according to the survey.

Private tax consultants who typically tackle more complex tax filings are reporting their business is even with last year. "I'm right on track," said Richard Green, a CPA in Mundelein.