Government Shutdown Could Impact Tax Returns

Government Shutdown Could Impact Tax Returns

The average tax refund a year ago was $2,800, money that many families rely on to help pay for rent, food and child care, Neal said in the letter.

Refunds won't be issued until the government is reopened, which could mean trouble for those hoping to have some extra cash in February or March.

As tax season approaches, the government shutdown can also affect returns.

An IRS spokesman, Matt Leas, declined to comment on the letter.

The political impasse comes at a time when there was already going to be additional complexity as individuals and corporations wrestle for the first time with new tax law changes.

The Daily Caller executive editor Vince Coglianese discusses how a partial government shutdown will impact the American people.

Taxpayers banking on their federal refund may have to wait a bit longer to get their money if the government shutdown goes on into the spring.

More news: Swedish hospital investigating a suspected Ebola case, authorities say

You still have to pay, but your refund may get held up.

According to KXAN, the Internal Revenue Service (IRS) will continue to process returns and it will accept payments if you owe money to the government.

While this is less of a concern to later filers, the report notes that lower-income households often rely on early refunds to pay debts or make larger purchases.

The office manager says there are some questions that can't be answered, but what she is advising customers to start getting tax paperwork together now.

"Gather your documents, be ready to file, and just do it in a normal way", she said.

"I was bracing for this", said Jonathan Medows, a CPA in Manhattan. The one that comes closest is the 27-day shutdown of 1995, which stemmed from a conflict between Democratic President Bill Clinton and the Republican-controlled Congress.

"We're now in unprecedented territory here", he said.

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