Your tax refund could come in later than expected
Your tax refund could be coming in later than usual this filing season.
In a hearing on Capitol Hill, Internal Revenue Service commissioner John Koskinen said budget cuts could delay those dollars for half of filers.
The National Treasury Employees Union says lines at walk-in centers could be long, stretching into hours. And if you opt to call in, you may not even get through to a representative.
The agency says the reason for all of this is a $346 million budget cut they are taking on. And that means the IRS will have fewer resources to get you your money as fast as you did in past years.
Koskinen testified on capitol hill that the IRS will be imposing hiring freezes and eliminating overtime for its workforce.
Taxpayer services and agency enforcement efforts could be affected.
The IRS website says that most tax refunds are fulfilled within 21 days of filing. Koskinen would not estimate how much slower they will be this time around.
This all comes as the IRS is set to take a bigger role in the president's healthcare law. Now when you file you have to report whether you have health insurance or not.
The IRS expects the filing season to start on time, but no date has been announced. And everyone who files is expected to get their refund. But be aware, it may be coming a little late.