Any government shutdown, even a partial one, may not impact a majority of Americans but a continued closure which overlaps the typical filing periods for taxes of all citizens could end up having a significant impact on individuals hoping to file and receive a refund from their returns in a timely manner.
Tax returns are normally able to be filed beginning in mid-January and until the mid-April deadline (April 15) unless an extension is completed. The individuals who are due a refund are usually among those which are the first to file in hopes of recovering their owed monies well before any natural delays begin to formulate as people across the country complete their taxes and file them with the Internal Revenue Service (IRS).
Government shutdowns, which occur periodically due to an inability of the Congress to reach any agreements that must also be approved by the President, for various purposes can cause a delay in the functioning of many government agencies, including the IRS, and force organizations to work with skeletal staffs in an effort to complete the necessary requirements typically available.
However, what a federal shutdown could mean for tax season
is a delay in order for those entitled to receive a return. While the period for filing taxes may also experience a push back in terms of when these items can begin to be filed, the main cause for concern would be to those who are entitled money back after paying in too much tax during the calendar year and not being able to receive the retribution in a timely manner due to the government not working.
While not always the case. Knowing how a shutdown may affect your individual tax situation
is important to consider although there may not be any immediate cause for retribution to the shutdown circumstances. While most years are executed flawlessly, should any type of shutdown occur around the filing period - mid-January, extending into the spring - these are potential issues to consider which could help eliminate the uneasiness felt by many.
For some, there are no alternatives available other than depending on Uncle Sam to provide what one is owed which can assist when a situation arises where both the receiving and disbursement of funds could be delayed. Unfortunate as it is, a shutdown impacts multiple government agencies and delays are a direct result of the proceedings. While those remaining on the job work to ensure taxes are being filed, paid, and refunds properly administered, there is no way they can cover the amount of work which can be completed by having a full staff on hand.
The experts at Bloch, Rothman, and Associates
will be happy to help you file and keep you abreast of any refund situations, individual tax implications, filing status, or assist you in determining which deduction would be right in your situation and answer any questions regarding individual or business income taxes. We can also help with a variety of bookkeeping and other payroll options. It is recommended for those who are selected for an audit, that they enlist the services of a professional tax service before they begin engaging with the IRS auditor, especially before they submit any information.
Continuing further, associates at Bloch, Rothman can analyze and compile data for your unique tax situation, along with finding resolutions for your issues and estate complications. All services provided can and will be completed in a timely manner, and will account for any restrictions or tax deadlines. Whether you need a simple explanation on a random tax form, are in need of representation, or would like help in a variety of other services our tax experts are ready and willing to assist. Call 303-321-7160 or contact us
for your initial free no obligation consultation.