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Your tax refund, the government shutdown, and the IRS

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Your tax refund, the government shutdown, and the IRS

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With political battles in full swing, the government's closure has become somewhat of a bargaining chip. And while we're not here to pontificate on the political atmosphere at large, we would like to bring some facts to light that could have an impact on your finances as we start the new year.

First day to file

The IRS finally announced that it would begin to accept tax returns for the 2018 tax year on January 28, 2019. We were under the impression that the IRS already knew the start date, but had furloughed the person responsible for updating the website and their Twitter account. Fortunately, they brought that person back (at least temporarily).

The Impact

Even though the IRS is operating on a skeleton crew, your taxes still need to be filed and paid for by the April 17th deadline. However, if you're owed a refund, your refund will likely be delayed. This is because the IRS does not prioritize the issuance of refunds when it is operating on a limited budget and with a limited number of employees.

Early estimates indicate that the IRS will be accepting tax returns in early February. However, this is unconfirmed and subject to change as circumstances evolve.

Legal Disclaimer

Tickmark, Inc. and its affiliates do not provide legal, tax or accounting advice. The information provided on this website does not, and is not intended to, constitute legal, tax or accounting advice or recommendations. All information prepared on this site is for informational purposes only, and should not be relied on for legal, tax or accounting advice. You should consult your own legal, tax or accounting advisors before engaging in any transaction. The content on this website is provided “as is;” no representations are made that the content is error-free.

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published

January 6, 2019

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Phillip Ingelmo

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