Bad News Looming For Your Tax Return this Year…
You could see delays in your tax return this year...
With the partial government shutdown reaching the two-week mark, the chance of delayed tax returns this year looms as a very real possibility.
Congress and President Trump are still in a standoff over the proposed US/Mexico border wall, affecting some 800,000 federal employees -- including those in the IRS office -- who have been on furlough or working without pay.
Should the shutdown continue for a prolonged period of time, we could see it affecting our tax returns. Because of under-staffing -- CNBC says the IRS is only running at 12% of staff -- the IRS will be able to accept your money but won't be available to answer questions, conduct audits or process returns.
This wouldn't be the first time a shutdown affects tax filing season; a shutdown in October 2013 made a mess for accountants and clients alike.
The Democrat-led House did pass legislation this week to end the shutdown. However, even if the Senate also votes in favor, the president can veto the decision, further prolonging the government shutdown.
For the sake of our wallets, bills and bank accounts, let's all hope it doesn't come to that.