government shutdown tax

How Will The Government Shutdown Impact Taxes?

Free 15 Minute Quick Call

Emerald Financial Partners is offering 10 Free Quick-Call Consultations from 1/21/19 - 1/29/19 for Government Contractors & Businesses affected by the shutdown.

As of this writing, the federal government is still in a "partial shutdown", and things are starting to fray around the edges, even for those whose paychecks aren't being affected. Already, it's the longest government shutdown in history.  But, how will the government shutdown impact tax filings, refunds, and your returns?

By the time you read this, things could be back to "normal" but here's one thing that won't stop during this shutdown, however long it lasts: your taxes.

That's right, the IRS confirmed last week that they will remain operational during the shutdown, your taxes will STILL be due this year (including your estimated payments, if that applies to you), and the official start of tax filing begins on January 28th. But refunds might still be affected. We'll keep you posted.

So, here are the things you need to remember:

  1. Get your taxes prepared early.  The 2018 tax changes affect many of our individual and business clients. You may expect a refund this year, but you may be in for a surprise!  And, if you owe, you'll want to know that NOW so you can plan ahead if you have to write that check in April.
  2. The Government Shutdown likely won't dramatically impact tax return deadlines.  While the government determines how it will handle tax season during the shutdown, there likely won't be a big change in the tax deadlines, so there is absolutely no reason to wait.

Since there were a lot of changes made to the tax laws as part of the 2018 tax reform, you'll want to be sure to work with a professional tax advisor, like Emerald Financial Partners.

We provide individual tax preparation to help you get every deduction you’re entitled to and help you avoid audits and costly mistakes that can arise from DIY online software.

And, if you ever do need help with the IRS, we provide the support you need.  Can your online software do that?

Contact Emerald Financial Partners today to get started!

 

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