The Internal Revenue Service announced that it will be delaying the start of the 2014 tax-filing season for approximately one to two weeks because of the recent government shutdown. Previously, the IRS had scheduled the filing season to begin January 21, 2014.
With the delay, the 2014 tax filing season may not begin until January 28, but before February 4, 2014. The IRS is schedule to make the final determination on the deadlines in December. This delay marks the second year that the IRS has postponed the start of the filing season. Last year, returns were not accepted until after January 30 due to the failure of Congress to set tax policies.
Despite delaying the start of the tax filing season, the IRS has not extended the April 15 deadline. It is also anticipated that debt limit which was suspended through February 7, 2014 will expire and affect whether the issuance of refunds will also be delayed.
A delay in the processing of refunds is likely to affect consumers and retail stores negatively.