All agree that the early filers are at an advantage.

April 15, 2008 at 12:00a.m.

YOUNGSTOWN — ‘Twas the night before tax day, and all through the state, taxpayers were nestled in their beds with dreams of rebates.

Others lay down all full of dread as the time to send Uncle Sam checks danced in their heads.

Payers and payees can all understand, the April 15 deadline is now at hand.

With the deadline for filing 2007 tax returns upon us, those who prepare taxes and those yet to file are feeling the crunch, but most say it’s an annual occurrence.

Anthony Nwankwo, a CPA in Youngstown, said he sees his fair share of last-minute filers. Those people, he said, generally fall into two categories.

“I have clients who just wait until the last minute. Some are habitual with it or are just procrastinators, but others know they have to pay and just want to wait until the last possible minute.,” he said.

Robin Carpenter, Boardman, sat down with Nwankwo five days before the filing deadline to crunch the numbers on her 2007 tax return. She said waiting until the last minute had more to do with finding the time to get the chore done between working two jobs.

“I don’t really think about it, even when I get my W2 forms, I just don’t think about it,” she said. “Then, with two jobs, when I get the first set of forms I still have to wait until I get the second set, so it takes a little longer.”

Carpenter also said knowing she will receive a refund, as opposed to having to pay, is another reason she waits a little longer — it’s like having a little cash reserve sitting there waiting.

Nwankwo said Carpenter falls into the minority of last-minute filers. He said most people who wait until a week before the deadline or the last day to file a return owe the government money and will wait as long as possible to find out exactly how much they owe.

Waiting to file, even if you owe Uncle Sam, still may not be a good idea, especially this year.

Carole Richards, H R Block Boardman office manager, said some people who owe may want to file for an extension, but they should still get their return filed on time because of the economic stimulus checks the government will be issuing taxpayers. She said a late return will likely hold up any stimulus money a person is due.

Richards, who has prepared tax returns at H R Block for 15 years, said she has come to the conclusion that some people procrastinate primarily out of habit. She said people tend to wait longer depending on how difficult their tax return is to prepare; the harder the task, the longer the wait.

Richards said people are either in a rush early in the year to get their return filed or likely to wait until the last possible minute.

“As a general rule, we have what we call two peak periods. The first peak is when people begin to get the W2s ,and the second peak is the week before and the week of the filing deadline,” she said. “Last-minute people are last-minute people, and they will wait until the absolute last minute.”

Richards suggest people plan ahead and make an appointment early, making it possible to see the tax specialist they want to see before the person is swamped with the “second peak.”

Nwankwo said those waiting to the last minute because they may owe money should plan differently in the coming years. He said paying quarterly or changing the number of dependents claimed throughout the year is a way to avoid that fear at year’s end.

Bill Tucciarone, CPA in Hubbard, said filing early is in the filers’ best interest for an entirely different reason — it allows the filer sto take their time and compile the needed records to make sure they are getting everything to which they are entitled.

“When you come near the April 15 deadline, people begin to rush and tend to miss deductions and things, so it’s better to file a little earlier,” he said. “You do not want to give up any tax credits you are eligible to have, and you don’t want to miss deductions that may cost you money.”

jgoodwin@vindy.com