What’s Open—And What’s Not—At The IRS During The Government Shutdown

The post What’s Open—And What’s Not—At The IRS During The Government Shutdown appeared on BitcoinEthereumNews.com.

Some functions at the IRS remain open during the shutdown. getty Due to the government shutdown—now in its third week—IRS operations are limited. Despite the need to prepare for the upcoming tax filing season—with new tax laws like no tax on tips in place—the IRS has furloughed about half of its employees. That means that some operations, like Criminal Investigation, remain open while others, like Taxpayer Assistance Centers (TACs) are closed. Here’s what you need to know. Do I Need To File My Taxes? Yes. You must continue to file taxes as normal. All tax deadlines remain in effect, including those covering individuals, corporations, partnerships and employers. Will My Tax Return Be Processed? It depends. You can still file your tax return electronically or on paper –– although the processing of paper returns will be delayed until full government operations resume. Will Tax Refunds Be Paid? Not necessarily. The IRS has confirmed that tax refunds will generally not be paid during the shutdown with one exception—if you file a Form 1040, the IRS will continue to pay refunds on e-filed, error-free tax returns that can be automatically processed and direct deposited. Do I Need To Pay My Tax Bill? Yes. Even if the IRS won’t pay you, you need to pay the IRS. The IRS will continue to accept and process any payments and remittances received, whether received electronically or by mail. That includes payments accompanying paper tax returns. There is no grace for late payments—due dates for paying your tax remain firmly in place. Will The IRS Open Its Mail? While the IRS will be able to receive mail and deposit tax payments received, the agency generally will not be responding to paper correspondence. If you mail in correspondence to the IRS during the shutdown, you should expect a…