Thu, April 07, 2011
As Congress wrangles over whether to extend funding or let the Federal government “shutdown” over the coming weekend, the Commissioner of the IRS has indicated that refunds for tax returns filed on paper will probably be delayed if there is a shutdown.
According to the Journal of Accountancy, Commissioner Shulman indicated today while speaking at the National Press Club that the IRS has prepared contingency plans in case there is a shutdown.
2010 tax returns are due April 18th, and a shutdown this weekend would be critical. The IRS is prepared to continue processing e-filed tax returns, so refunds for these are less likely to be delayed. Although the majority of returns are now filed electronically, about one-third of them are still filed on paper.
The IRS is expected to announce more details tomorrow on its shutdown contingency plans.
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