Here we are at the beginning of February. All W-2’s are supposed to be out! It is time to go and get our income tax returns prepared for filing. We have just gone through the longest government shutdown in history. Government functions, including IRS are just getting back up and running. We are facing the prospect of yet another government shutdown.
By now, everyone is aware that the main sticking point on the whole government shutdown situation is ‘The Wall’. There seems to be about the same number of people on each side of this debate. Some folks think ‘The Wall’ will solve many problems in this country. Other folks think ‘The Wall; is a waste of time and money. Regardless of which opinion you share, the discussion is likely to affect your tax return. IRS is saying all refunds will be paid no matter what, we just don’t know for sure how soon.
The net of all this is that we just need to prepare and file tax returns as usual. The returns that can be processed automatically will probably be processed as usual. Those that need review will undoubtedly be delayed. That means if your tax preparer asks more questions than usual to document your EIC return, you should be thankful. The less human intervention required, the better.
In spite of all this, my question is… ‘The Wall’ Do we need it??? Yes or No