OMAHA(KPTM)-Planning on spending that tax refund already? One tax expert says you better be prepared to wait to get that money.
October's government shutdown has led to an IRS slowdown. "It effects everyone. No one can submit a tax return before February 4th," said Edward Leahy who serves as Director of the Earned Income Tax Credit Coalition.
The original date the IRS was scheduled to accept those returns was January 21st, 2014. Leahy adds that if you are expecting to get a refund on your 2013 taxes, it usually takes the IRS a week to three weeks to process it. But instead of that time period starting in January, it begins two weeks later.
Leahy advises those depending on a refund to pay basic expenses to budget carefully. "And the sort of big question that's unknown is will there be a further crisis if the government doesn't reach a spending plan by January 15th. That could further cause delays for some filers or everybody. It certainly will impact the timing and delivery of refunds," said Leahy.
Even though you may have to wait for your refund, if you owe Uncle Sam money the deadline is still April 15th.
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