Advice on Filing Taxes during the Government Shutdown

Scott Sanders, CPA, PFS, CGMA, CFP^®, CFS, Managing Partner, Sanders Thaler Viola & Katz, LLP, is urging those who filed an extension that they have until October 15 and that sole business practitioners should continue to submit their quarterly filings, since the Internal Revenue Service (IRS) will continue to operate while the U.S. government will be shut down, albeit on a limited basis, which may affect some services.

On October 1, the IRS issued a statement saying that, despite limited operations, the agency will continue to accept and process all tax returns with payments; however, they will not be processing tax refunds to those who filed for an extension. The IRS has also announced that anyone who has scheduled a meeting with the auditor can assume their meetings have been canceled.

"Just because there is a government shutdown does not mean that anyone who has not filed their returns yet does not need to do so anymore," Mr. Sanders says. "The IRS is still accepting all individual and business tax filings. Those who anticipate a refund will have to wait until the shutdown ends, so it might take a while. It is best recommended that, in order to file in a timely manner, you submit your taxes electronically."

For more information, call (516) 938- 5219 or visit www.st-cpas.com.

To learn more about Sanders Thaler Viola Katz, LLP, visit www.st-cpas.com.