Government Shutdown Could Impact Tax Returns

TUPELO, Miss. (WCBI) – The government shutdown seems to have no end in sight, even as tax season is upon us.

Lionel Land has been fielding a lot of emails, texts and Facebook inquiries from people who want to know what the federal government shutdown means for them.

“Just trying to find out, what is the next step, and a lot of people really don’t know,” said Land.

Land is owner of “B MAC Tax Services” and has been talking with other tax experts to help answer clients’ questions about the shutdown.

He believes the main impact will be felt by taxpayers who are due refunds, but he says there is a solution.

“According to sources there will be a delay on tax refunds due to government shutdown,  we are all anticipating a quick resolution. We offer a refund advance loan, 500 to six thousand dollars, you can get it within 24 to 48 hours,” said Land.

While refunds aren’t being processed during the government shutdown, the IRS is taking payments.

Land says if you owe the government money, the shutdown does not give you extra time to pay.

He also encourages taxpayers to not delay filing their tax returns, just because of the stalemate in Washington D.C.

“All rules still apply, need to get taxes filed, if you owe, pay, need to pay taxes on time,” Land said.

A 16 day government shutdown in 2013 meant delays for more than $2.2 billions in tax refunds.

Tax professionals also say the impact of the shutdown won’t be as bad as long as everything is resolved before people start getting their W-2 forms .