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Saturday, December 28, 2013

Government Shutdown Forces IRS Tax Delay for 2014

Just like last year (and the year before) there will be delays to the start of the tax filing season again this year. The delay will apply to 2013 tax returns filed in 2014. This year, the delay is due to the 16 day government shutdown.

The IRS just announced that the 2014 Tax Season will Start Later following the government closure. The IRS closed about 90% of their operations during the government shutdown, which is also peak season for the IRS to update, program and test their processing systems.

The beginning of tax filing season will be delayed approximately one to two weeks. The tax filing season was supposed to begin on January 21, 2014. The IRS stated that the delay will likely mean that they’ll start accepting tax returns sometime between January 28, 2014 and February 4, 2014.

Another shutdown, obviously, will likely mean longer tax return delays for 2014.

Even if there is a delay to the start of tax season, the tax deadline will still be April 15, 2014. You can still request a tax extension.

You will get your tax refund quicker by e-filing, even with the delay. The IRS won’t process paper forms before the start date either.

At this point it is unclear if the refund timeline will be impacted beyond just the late start to the filing season. Normally, filers can expect their refunds in 21 days. Last year the tax filing delay started a ripple effect that caused a tax refund delay in 2013. We might be looking at the same thing again this year.

If you have questions
info@seruwagecpas.com

301-613-5165 


Iddi Sandaly, CPA , CGMA 
Seruwage Consulting and CPAs 
www.seruwagecpas.com

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