Will the Government Shutdown affect Your Taxes?
The ‘shutdown’ will not affect the preparation and electronic transmission of your annual tax returns. It may affect the ‘acceptance date’ and delivery of some refunds….should the shutdown linger. In other words: “business as usual for the tax preparation firms”. Once the government ‘comes back online’, all e-filed returns will spool and the transmission date will be documented separately from the acceptance date.
Outside of annual tax filing, the departments regarding your pending cases are furloughed.
The following news regarding the government ‘shut down’ was reported in this morning’s issue of “Journal of Accountancy”:
“All non excepted functions will shut down, including IRS headquarters and administrative functions, audits and examinations, processing of paper returns that do not include remittances, legal counsel, and taxpayer services. The National Treasury Employees Union estimated last week that 87% of IRS employees will be furloughed by the shutdown (i.e., placed “in a temporary status without duties and pay because of lack of work or funds or other non disciplinary reasons” (5 C.F.R. §752.402)).”