How will the government shutdown affect tax returns in 2019?
The government shutdown is happening as a result of Democrats and Republicans being unable to come to an agreement regarding funding for the Mexico border wall, which President Trump is seeking to build with $5 billion. However, Democrats are reluctant to pass funding on such a project that would prevent Mexico and Central America immigrants from coming in to the U.S.
If the shutdown continues to take place through late January or perhaps even part of February, it could take a toll on tax returns and the U.S. economy. Namely, such a move could delay tax refunds, hurt the productivity of federal workers by halting their paychecks for the time being, shut down national parks and suspend federal funding for loans.
However, if the government shutdown ends sooner rather than later, meaning in the coming two weeks or so, you should still be able to get your tax refund on a timely fashion. This timetable is linked with the fact that the Internal Revenue Service (IRS) said that this year, it had no plans to fully start processing tax returns until later in January.
Once the IRS does begin accepting tax returns, you should have the ability to mail them in or submit them online even if the government shutdown persists. If the government shutdown persists past mid-January, it is unclear what the tax refund timetable will look like.
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