IRS Will Issue Tax Refunds During Partial Gov’t Shutdown

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With no end in sight, it was announced that the partial government shutdown taking place in Washington will not affect IRS income tax refunds this filing season.  As reported by Forbes, even if the federal shutdown drags on through the filing season refunds will be paid.  Acting director of the White House Office of Management and Budget, Russell Vought, declared, “Tax refunds will go out.”  Indeed…

“Last year, the IRS processed 136,359,149 tax returns during the regular tax season; just over 10% of taxpayers tend to file an extension, bringing the total number of tax returns processed during the year to 154,058,000. Of those returns, over 70% resulted in tax refunds, worth $324 billion to 111,911,000 taxpayers, with the average tax refund check ringing in at $2,899.”

Click here to read the full story on Forbes.com.

 

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Director of Education & Outreach, National Real Estate Investors Association

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