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THE PERFECT STORM

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THE PERFECT STORM

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On January 7, the IRS confirmed in a news release that filing season will start on time – January 28 – and that it will be issuing refunds.

The IRS also announced that it will recall a significant portion of its workforce, currently furloughed as part of the government shutdown.

Meanwhile, tax preparers are already anxious about tax reform, pending regulations, and cybersecurity. And, during shutdown, many IRS functions are suspended.

These include: income verifications, amended returns, and audits. Will returning IRS staff be properly trained? All this may sound like the perfect storm.

What should taxpayers do? Stay the course. Gather information. Prepare the return. Be ready. April 15 bottlenecks may occur.

With over 20 years of experience in public accounting, Amanda Bechen CPA owns Bechen & Company PC located in Wagner, SD, and can be contacted at 605-384-4200 or www.bechenco.com.