You may have to hold onto those tax returns for just a little bit longer. The Internal Revenue Service (IRS) announced on December 18th that tax returns would not be processed until January 31st. Last year’s government shutdown is responsible for the tax-filing season being delayed once again. Think the deadline will be pushed back to give taxpayers enough time to file their returns? Think again. The deadline is still April 15th, which makes this tax season even shorter than last year’s.
Shutdown Interfered with Important IRS System Updates
The federal government shutdown which lasted about 16 days last October interrupted the updating of IRS systems for the upcoming tax season, according to the IRS website. Approximately 90% of IRS operations were closed during the shutdown, forcing the service to fall behind schedule. The postponed start to this year’s tax season will directly impact individuals and business owners as well as tax preparers due to the delay in the updating of important tax-related laws and forms. Taxpayers are encouraged to use e-file as their filing method as it is the fastest way to receive a refund.
Avoid the Crowds and Visit Your CPA Today
The good news is that you may begin filing your tax returns even though it will not be processed immediately. Keep in mind that if you do file your tax return now, it will be ready for the IRS when the time comes for processing. Taxes are stressful enough without the added pressure of having a shorter timeframe to complete them. You can avoid the crowds of taxpayers coming in after January 31st by visiting your certified public accountant’s office and getting started on your taxes today.
Do not wait until the last minute. We encourage taxpayers to get a head start and file their tax returns as soon as possible. If you have any tax-related questions or would like to get started on processing, contact McAllen’s certified public accountants at Gonzalez & Arrambide, Inc. at 956-447-9009.