IRS and the U.S. Government Shutdown – Collecting but not Paying

According to an article in the CPA Journal (http://www.journalofaccountancy.com/News/20138825.htm) during the U.S. government shutdown, the Internal Revenue Service will continue to process and collect federal income tax remittances but they will discontinue paying taxpayer refunds.

According to the article, when “normal government operations” resume, the IRS will restart processing and paying taxpayer refunds.

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About docjonz

I am an Associate Professor of accounting at Hofstra University in Hempstead, NY. Additionally, I have more than 30 years of professional accounting experience in various capacities including auditing, accounting standard setting and corporate accounting policy.
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