MARCH 2019 globaltravelerusa.com 25
AS WE ALL KNOW, the U.S. government shut down
for 35 days earlier this year. As of this writing, another
shutdown loomed. Because of the shutdown, the IRS
has been short-staffed. Even though IRS workers were
ordered to return to work, many continued to skip,
claiming financial hardship due to not receiving a pay
check, citing their inability to put gas in their car or pay
for child care, among other reasons. They were to receive
back pay upon returning to work.
This tax season was already shaping up as a tough
one due to the new tax laws enacted for 2018. The
government shutdown exacerbated the situation. The
new tax laws have had a ripple effect for a few different
reasons. First, the withholding tables were changed; as
a result, some groups estimate tax refunds will be more
common, while others believe taxpayers will owe more
this year. There have been discussions about lowering
or abating the penalties for taxpayers who have not had
enough tax dollars withheld due to the changing of the
tax tables. Also, because of the tax law changes — and
historically speaking — more incorrect tax returns will be
filed, slowing the IRS’s ability to process tax returns.
In addition, since the new tax laws were enacted
so quickly, many tax professionals are still waiting for
guidance, further slowing things down. Many cases were
put on hold during the shutdown and now need to be
resurrected. The amount of work to be done exceeds the
number of workers who can do it quickly. It will make
the IRS employees’ to-do lists rather lengthy.
If you have a question for the IRS or an audit or
issue that was to be worked on prior to the shutdown, it
will take some time, and you may be on hold for lengthy
periods before you can get your issue resolved.
For those hoping or knowing they will receive a
refund and looking for the best way to receive it expedi-
tiously, take these two important steps. File your return
electronically; while most taxpayers do this already, some
still file with paper. If your tax return shows you are
entitled to receive a refund, be sure to have it electroni-
cally deposited into your bank account.
The tax laws are different for 2018, so if you are
preparing your own return, be cognizant of the changes.
If you have a professional assisting you, be sure to ask
what, if anything, you should do differently in 2019.TAX TIME
The government shutdown took its toll on the IRS.
wealth
The content of this article is for informational purposes only. It is not
intended to be a substitute for professional financial advice.
Always seek the expertise of a certified financial advisor or other
qualified provider with any questions you may have regarding personal
PHOTO: © TIAGO ESTIMA - DREAMSTIME.COM finance, investment and money-related issues.