IRS shutdown could impact tax returns

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The continuing government shutdown is having an impact on the agency Americans love to hate; the Internal Revenue Service.

An IRS spokesperson would not speculate on how long the shutdown would have to last in order to result in a delay of refunds, CNBC reports.

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

Currently, the IRS is operating with a skeleton staff although they are expected to add personnel for the impending tax filing season. While the document notes the plan can be reassessed and furloughed employees can be recalled, The Wall Street Journal reported Wednesday and CNN reported Thursday that the IRS generally does not issue refunds during a shutdown. Hello to slowing the future growth of our economy!

The agency has been part of the government shutdown cut backs, retaining only about 12.5% of their workers.

First, tax refunds won't be issued.

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"So let's say we get to the end of January [without the government reopening], I would say no", Gunderdorff told WTVD with regard to people getting early refunds.

Our divided Government is stubborn.

The tax decrease could also hold surprises for some people.

If the shutdown is resolved in a few weeks, it may not affect taxpayers, but the current situation increases the likelihood of a delay in refunds - which could put pressure on lawmakers to reach a deal to fund the government, Rubin wrote.

Anthony Rivieccio is the founder and CEO of The Financial Advisors Group, celebrating its 21st year as a fee-only financial planning firm specializing in solving ones financial problems.

For the most comprehensive local coverage, subscribe today. Mr Rivieccio is also now an Adjunct Professor of Business, Finance & Accounting for both, City University of New York & Monroe College, a Private University.