Tax Season is Coming…

Will the government shutdown impact my tax return?  The answer to this is still largely undetermined. The shutdown includes the Treasury Department, of which the IRS is a part.  During the shutdown, the vast majority of IRS employees are on furlough . However, the IRS has said they will bring back some workers to process returns.  This is in response to the government promising that taxpayers receive their refunds on time. But when those workers will be brought back and how many is not yet known.  

On Wednesday night, the House voted to reopen the Treasury Department.  Unfortunately, that vote is already threatened to be vetoed as the climate of uncertainty continues.  One thing seems certain. Getting in contact with the IRS with any questions this tax season will be challenging.  The limited staff is not expected to be enough for the influx of returns sent and inquiries received at the beginning of tax time.

Complicating matters further, this is the first tax filing season with the many and various law changes under the new Tax Cuts and Jobs Act (TCJA).  We’ve shared many of these changes in posts over the course of the past year. The intricacies are many and questions and confusion will be higher than normal this year, impacting a reduced staff even more so.

For the many taxpayers who depend on their returns each year, hopefully a quick end to the shutdown will alleviate many possible issues.  Until that time, our office is always open for tax questions and concerns.