Tax refunds impacted by the shutdown?What you need to know
Bottom Line: First thing’s first. Prepare your taxes and ignore the noise about any impact on receiving a refund due to the partial government shutdown. Why? Because once again that appears to be little more than hype and fake news. Much of that was brought about when the House Ways and Means committee produced a video update warning that it could take up to 18 months for the IRS to recover from the shutdown. I’m not kidding. That happened and some in news media went with it.
Here’s the video: https://twitter.com/WaysMeansCmte/status/1089981047008301057
So, while as recently as yesterday news outlets were reporting on likely delays for tax refunds due to the partial government shutdown,here’s what the IRS had to say:
- Tax refunds will begin next week for taxes filed this week
- 90% of all refunds will go out within 21 days
How does that compare with previous years?Exactly the same timeline. In other words, there are no projected delays for tax refunds due to the partial government shutdown. Two sides to stories and one side to facts.