This may be the only time being ahead of schedule is NOT a good thing.
Do you like to get the tough stuff out of the way? Does it make you feel like you can get to something better, faster? Did your mother ever tell you to stop delaying and DO YOUR HOMEWORK?
Well, guess what: It’s not gonna work this time.
We all know the government shutdown is a big deal. No matter where you fall on the political spectrum, there’s no doubt that the shutdown is causing lots of stress and complications. The fun stops here, people: The Smithsonian museums are closed, the National Zoo is closed, some national parks are closed (and have no way to clean up the mounting litter and trash), you can’t get your marriage license, and the list goes on. But wait! It gets worse!
The IRS will not be issuing tax refunds during the shutdown.
Yes, you read that right. The sole motivation to file all that nasty paperwork is being withheld from us until the government can get back up and running. So if you were hoping for a belated Christmas present or early birthday gift from the government, you’re going to have to put that on hold.
With less than 13 percent of their workforce retained during the shutdown, the IRS can only operate at a certain level. Sure, you can file your tax return now, but you won’t get any kind of refund for a while. In fact, go ahead, file your tax return; the IRS can still process it. You won’t get any money back yet, but if you owe it, make sure you pay it. The deadline to pay up is still the same, shutdown or no shutdown — April 15 can still go on your calendar as D-Day. And this leads me to my next question:
If I have a personal shutdown, does that mean I don’t have to pay?
Important to note: If you have any questions after all the tax law changes in 2018, you still might want to wait on filing taxes. The IRS is not available to answer your tax questions or concerns at this time.
I guess one thing your mother was right about still holds true: Life is not fair.
Were you planning on filing your tax returns early? How is the federal shutdown affecting you? Let us know in the comments below!