Tax filing season won’t be delayed by the partial government shutdown. Processing is set to begin January 28th.
Posted on January 16, 2019
The CPAs at Teipen Selanders Poynter & Ayres were pleased to learn that government shutdown or not, the Internal Revenue Service will process tax returns as usual, beginning January 28, 2019. The IRS Commissioner has also stated unequivocally that the IRS will be providing taxpayer refunds as scheduled as well.
The IRS has consistently held that it had authority to pay refunds despite any lapse in government annual appropriations. Now, however, through an act of Congress, payment of all tax refunds has become a permanent rule, through appropriation 31 U.S.C. 1324. The Office of Management and Budget (OMB) confirmed the ruling.
This is a relief to tax preparers and CPAs everywhere, as they work to implement the biggest tax law changes the nation has seen in more than 30 years.
This should also come as a relief to taxpayers across the country, especially those taxpayers who heavily rely upon a refund check to make ends meet.
Teipen CPA Mike Poynter suggests that taxpayers who prefer filing early and have all needed documentation, should file their taxes as they usually would. “Because this tax season is one that implements new and complicated 2018 tax rules and regulations, it is a good idea to allocate as much preparation lead time as possible. Scheduling time with your CPA early is strongly encouraged to allow for faster processing and refunds, especially considering a reduced IRS staff.”
Taxpayers should file when they are ready to submit a complete and accurate tax return. The filing deadline to submit most 2018 tax returns is Monday, April 15, 2019.