Government Shutdown May Affect Your Tax Refund
If the current partial government shutdown continues long enough it may affect you when it comes to your tax refund.
According to WAVY, while the shutdown is taking place the I.R.S., (Internal Revenue Service) will only have 12.5% of their employees on the job. The I.R.S. will continue to process returns and will accept payments if you owe money to the government.
And if the government shutdown continues till the tax due date of April 15th, you will still be expected to pay the money you owe on that date.
However, according to WAVY, the I.R.S. will not the processing refunds if the government is shut down. That means if you plan on filing early to get your returns early, you won't see your return until the shutdown ends.
I hate to be the bearer of bad news and I personally doubt the shutdown will go into February, but I just figured I would give you the heads-up just in case.
That would suck if the shutdown lasts that long. Last year, because my wife took an early retirement package, we had to pay taxes for the first time ever after filing our returns. We usually get a refund and use that money to pay the maintenance fee for our timeshare, and we put some tax money aside for our vacation.
Needless to say, we missed having the refund last year and we are looking forward to receiving a refund this year. So if the partial government shutdown lasts into April, that's really going to suck.