Our government recently made history with the first government shut down in over a decade and a half. The shutdown cost close to two billion dollars over sixteen days, due to the amount of workers that were temporarily out of work. Sixteen days may not seem like a great deal of time to those not employed by the government, but it certainly gummed up the works for the tax system. The tax season is going to be delayed by a little over two weeks in 2014.
While two weeks sounds like next to nothing, it certainly isn’t. So what does the delay mean for you the business owner? Because of delays in their day to day operations during the shutdown, they feel the two week extension is necessary to successfully get their programs up to date. The IRS will not begin accepting tax returns until January 28, 2014 at the very earliest.
Does this mean you have two extra weeks to file your taxes? Certainly not, the delay is solely for the benefit of the IRS, not the taxpayer. The IRS states that they are working to shorten this delay as quickly as possible but details the process as necessary. American taxpayers will be notified of all changes in this delay by December, at the traditional start of the tax season.
Delay or no delay, processing your tax forms in a timely fashion in necessary. If you’ve been avoiding that stack of forms on your desk in hopes that the tax season stoppage would allow you some extra time, don’t wait any longer. We are here to help with a team, ready to e-file your 1099, 1098 and W-2 forms efficiently and accurately. Contact us today to get started!