The stalemate in DC has shut down the IRS as well and one of the biggest effects is that any returns with refunds, the refunds are not being processed. Payments on returns are being processed. This causes a lot of other peripheral problems as well. New businesses can’t get employer identification numbers in order to be able to open bank accounts and pay their withheld payroll taxes. This puts anyone trying to open a new business at a standstill. Even though the service is shut down tax return due dates have not been extended and if you have returns due you need to file those returns timely. This mess will get uglier for taxpayer compliance the longer it continues on.
posted by Alan Long, CPA, CITP, CGMA
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