Consumer Finance Site Publishes Update on How Taxes are Affected by the U.S. Government Shutdown PersonalLoansForBadCredit.net has produced free consumer update to help explain how the federal government shutdown creates various tax implications for consumers.
ATLANTA, October 16, 2013 /PRNewswire/ --
CNN Money reports that despite the fact that only 9% of employees from the Internal Revenue Service continue working during the U.S. government shutdown, all current tax laws will remain in effect. As such, American consumers are expected to continue fulfilling their tax obligations.
PersonalLoansForBadCredit.net, the consumer finance website and loan comparison specialist, has produced a consumer update sheet to explain what this means for taxes, tax refunds, returns and audits.
Sam Ash, spokesperson for PersonalLoansForBadCredit.net, made the announcement of the consumer update note's publication in the following statement that was released to the press.
"Fair or otherwise, although only 8,750 out of almost 95,000 IRS Employees are working throughout the shutdown, Americans are still required to meet all of their taxes obligations on time. This includes filings that are due for the October 15 deadline. The consequences of this shutdown are confusing and far reaching - consumers need accurate information in a timely manner."
The statement continued, "We advise consumers to check the IRS website for regular updates during the shutdown, as the situation progresses. In the meantime, we hope that out update note will help clarify the situation for consumers."
Highlights from the tip sheet include the following clarifications:
- If a consumer asked for an extension on their tax payments from Spring 2013, returns should still be filed by October 15. The IRS is advising consumers to file electronically, in order to have the returns assessed automatically. Regardless of the fact that the IRS is operating on a much reduced workforce, and thus paper returns will take longer to be processed, the deadline remains nonetheless.
- Tax refunds will be delayed until after full IRS operations resume, after the shutdown
- Consumers that need help with their returns will not be able to access the IRS by telephone, as customer service operatives have been furloughed. However, there are automated telephone services, which can be accessed on (800) 829-1040. Consumers can also try to AARP Foundation, which has a Tax-Aide program
- Tax audits will be postponed until full IRS tax operations resume after the shutdown.
For more consumer finance information, visit the article portal at: http://www.PersonalLoansForBadCredit.net
Contact: Sam Ash