Can Trump government shutdown Delay your 2019 Tax Refunds?
In 2017, Republicans in Congress approved a tax law called “Tax Cuts and Job Act” which was signed by President Trump. The IRS has problems in implementing this tax law since it requires reviewing or recreating tax forms and worksheets according to the new law and IRS policies and procedures. Due to its complexity and for better implementation, IRS employees require training that has been postponed.
The IRS announced that more than 30K workers will work without pay during this tax filing season until shutdown ends. All these complications lead to a shutdown, which gives rise to many problems, such as how will it affect my tax return? When will I receive my tax refunds? How much delay do I have to face due to the government's closure in 2019?
The 2013 government shutdown caused a delay in tax refund payments of $ 2,200 million when only 10% of IRS workers were operating. But do not worry, Trump government shutdown won't Delay your 2019 Tax Refunds. The Trump administration has announced that tax refunds will be paid as scheduled by the IRS, even if there is a closure that begins in the 2019 fiscal season. The IRS will remain open during the shutdown operating with only 12.5% of its staff, who will work as normally as possible. But this fund will be used to provide tax refunds, not to pay the workers until the closing comes to an official end. which means it can lower the morale of unpaid employees (the IRS lost around 18,000 employees between 2010 and 2017).
Speed Up your Refund even in the shutdownSo, because of all these hassles, IRS plan to help taxpayers and recommend tax returns to be filed electronically. Mistakes can cause delays. E-filing minimize the chances of errors which leads to faster refunds even If IRS has limited staff because of the government shutdown, won’t affect your refund. You can also follow the Tax Preparation Checklist through which you can get complete guidance to prepare Your Taxes.
To have tax returns without errors, the IRS strongly recommends filing tax returns electronically or prepared by registered accounting companies for faster refunds. SG Inc. CPA is an accounting firm that has authorized tax professionals, who accept tax returns before the opening day and send error-free tax statements when IRS systems will be opened.