Taxpayers can expect the start of the 2014 filing season to be delayed for possibly two weeks, the IRS has announced. The IRS explained that agency personnel, many of whom were furloughed for 16 days in October, need additional time to program return processing systems for the filing season. In other news, the U.S. Department of Health and Human Services (HHS) clarified the Patient Protection and Affordable Care Act’s shared responsibility payment for failing to carry health insurance during the initial enrollment period of Marketplaces.
Observation The past few tax seasons have placed us in an unenviable position; to be on the front line for our clients’ frustrations for late and last minute filing caused by the unpredictable and sometimes needless actions in Washington. Problem is, these series of occurrences over the past few years are starting to become the norm. Good news is preparing for this type of situation is simply what we do. While we normally choose to be proactive and anticipate change, we are trained to prepare for anything and deal with these types of delays.
So, as we plan for the upcoming tax season, our firm is developing procedures and processes to mitigate the impact of this latest development to our clients.