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Facing Government Dysfunction Over Funding – Posing Risk to Tax Season
Potential IRS Closure Looms Amid Ongoing Spending Disagreements
According to Yahoo Finance, as Congress deals with disagreements over spending there’s a looming danger that the Internal Revenue Service (IRS) might temporarily close causing potential chaos during tax season. While lawmakers recently avoided a partial government dysfunction crucial aspects of the funding debate including the IRS budget, remain unsettled with a deadline of March 22—just three weeks before tax returns are due. If no agreement is reached the IRS could face unprecedented challenges disrupting services for taxpayers and potentially delaying refund checks.
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Government Dysfunction: Chaos in Your Tax Refund – Check It Out! (PHOTO: Yahoo News)
Raises Concerns for Taxpayers and Professionals
If the funding deadlock persists the IRS may face an unprecedented situation with a potential shutdown during tax season. IRS Commissioner Daniel Werfel is uncertain but hopeful about preserving essential functions. Experts anticipate that while IRS computers may accept electronically filed returns refund processing could be delayed, adding stress to the already demanding tax season. Larry Pon, a former IRS employee and CPA warns of potential disruptions recalling the 2018-2019 shutdown’s impact on IRS offices, phones, and refund checks. Concerns about government dysfunction are rising among taxpayers and financial professionals as they brace for the potential challenges ahead.
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