Alexis Anderson
Staff Writer
If you are one of the students who depend on early tax refunds to pay off your credit card bills, purchasing accessories, or need money to plan your spring break trip, you might want to start planning ahead because tax refunds will be delayed in 2014 due to the government shutdown in October 2013.
According to the Internal Revenue Service, the date of the 2014 filing season will be delayed up to two weeks because of the 16-day federal shutdown which pushed back the schedule for programming and testing tax processing systems. A delay in processing will likely mean that there will be a significant lag in receiving your refund if you submit a paper return this year or if your return must be processed manually.
Donald McWilliams, Instructor of Accounting at Jackson State University and JSU Volunteer Income Tax Assistance (VITA) director, said he thinks the delay won’t have a significant impact on college students.
“The only change that has appeared from the government shutdown is the delay of the starting date for tax season. Normally, people would have 15 extra days to get a head start on filing taxes, but the IRS has to conduct additional refund fraud, identity detection, testing demands, and training due to the shutdown,” said McWilliams
He added: “The government shutdown hasn’t changed the rules, it only slowed down the tax forms and possibly online tax services. However, another issue is that the budget sequestration will affect the IRS personnel. Some of the effects are yet to be seen.”
From October 1-16, 2013, the United States federal government entered a shut down and curtailed most routine operations after Congress failed to pass legislation appropriating funds for the fiscal year.
Students who pay taxes are most likely to be affected by the IRS delay. Many college students, especially lower-income households, use their tax withholding as a “savings account” and look forward to tax refunds as a way to make purchases or settle up credit accounts after holiday season spending.
Many JSU students are not bothered by the delay of filing their taxes.
Shawn Kelly, a senior accounting major from Pinola, Miss., said the new deadline will not furlough his taxes.
“The delay isn’t really a big deal. It’s not going to affect me either way, because I usually wait until later to start filing my taxes. I do believe the government officials should have intervened a long time ago,” said Kelly.
Erica Bennett, a senior accounting major from Jackson, Miss., agrees with Kelly. She said that the deadline should not hinder student’s taxes.
“The usual date was Jan. 21, instead it’s a week later. The deadline has always been April 15. There might be a drag in student’s education efficiency credit, but that’s about all. The Accounting Society has to remember not to post anything on our website pertaining to tax service, unless it is in the scheduled date from the IRS,” said Bennett.
The government closure meant the IRS had to change the original opening date from Jan. 21 to Jan. 31, 2014. The 2014 date is one day later than the 2013 filing season opening, which started on Jan. 30, 2013 following January tax law changes made by Congress on Jan. 1 under the American Taxpayer Relief Act (ATRA). The extensive set of ATRA tax changes affected many 2012 tax returns, which led to the late January opening.
Joe Williams, a freshman marketing major from Montgomery, Ala., said the delayed deadline for filing taxes will add more pressure on him.
“It is going to make it tough on me, this is my first time filing taxes. I really don’t have time to play around. Thankfully, my parents are helping me with the process. I feel like this will teach me the importance of doing taxes in advance,” said Williams.
The IRS will not process paper tax returns before the start date for tax season. There are no advantages to filing on paper before the opening date, but taxpayers will receive their tax refunds faster by filing electronically with direct deposit.
The April 15 filing deadline will not change because it is set in law. The IRS reminds taxpayers that anyone can request an automatic six-month extension to file their tax return. The request is easily done with Form 4868, which can be filed electronically or on paper.
The VITA program at JSU will be offering tax assistance to students, staff, faculty and the community from Jan. 28 until March 4, 2014 in the College of Business on Tuesdays on the 2nd floor and on Saturdays in the Student Center on the 2nd floor lounge.
