By now, you’re all aware that life as we know it has ended. Really – the Federal Government is providing only ‘essential services’.
Believe it or not, most of the IRS is not considered ‘essential’.
So, here’s some selected guidance from today’s IRS edict regarding the shutdown:
-“… Individuals and businesses should keep filing their tax returns and making deposits with the IRS, as they are required to do so by law. The IRS will accept and process all tax returns with payments, but will be unable to issue refunds during this time. Taxpayers are urged to file electronically, because most of these returns will be processed automatically.”
- “…While the government is closed, people with appointments related to examinations (audits), collection, Appeals or Taxpayer Advocate cases should assume their meetings are cancelled. IRS personnel will reschedule those meetings at a later date. “
- “… You should continue to file and pay taxes as normal. Individuals who requested an extension of time to file should file their returns by Oct. 15, 2013.”
- “… All other tax deadlines remain in effect, including those covering individuals, corporations, partnerships and employers. The regular payroll tax deadlines remain in effect as well.”
- “… Tax refunds will not be issued until normal government operations resume.”
So where’s the good news? All tax deadlines remain in effect. That means if you have a tax debt, the statute of limitations is not delayed. If this goes on long enough, a deadline could work in your favor!
Keep that in mind as you listen to the hysterical news reporters.