Looking Forward To Your Tax Refund? The Shutdown Might Have Something To Say About That
If the government shutdown continues it could delay the payment of billions in income-tax refunds. IRS struggles to operate at full capacity.
Under the parameters of a shutdown, the IRS is only able to accommodate one in eight employees,” The Wall Street Journal reported.
Certain functions like dealing with government property and criminal investigations will continue.
However, auditing and refunds have stalled.
“We’re in uncharted territory as each day gets longer,” Mark Steber, chief tax officer at Jackson Hewitt Tax Service Inc told The WSJ.
The news comes as Congressional lawmakers are still trying to hammer out a deal to reopen the government while putting forth a plan to alleviate the southern border crisis.
By March of last year, the government had already paid hundreds of billions of dollars.
By March 30 the amount totaled $212 billion, according to The WSJ.
This year’s tax refunds will be 26 percent higher than 2018.
They will result in $62 billion more in reimbursements, Fortune reported.
The IRS does not respond to inquiries if the government isn’t open.
That mean filers won’t be able to call in to ask questions about the effects of the shutdown.
The agency may look to recruit more staff after the filing season starts to help with the additional processing.
They have yet to announce an official start date.
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