Ironically, the government furloughed many IRS workers as ‘non-essential. As a result, the IRS has had to postpone the start of tax season 2014.
San Francisco, CA (PRWEB) November 01, 2013
Safe Harbor LLP , a top San Francisco accounting firm at http://www.safeharborcpa.com/ has published a blog bulletin with tips for San Francisco residents and businesses reacting to the tax preparation impact of the recent Federal government shutdown. The bulletin can be read at http://www.safeharborcpa.com/?p=3141.
“Ironically, the government furloughed many IRS workers as ‘non-essential,’” explained Chun Wong, Managing Partner at Safe Harbor LLP. “As a result, the IRS has had to postpone the start of tax season 2014, but clients need to be aware that all filing deadlines and regulatory requirements have stayed in effect.”
How San Francisco Individuals and Businesses Can Prepare for Tax Season, 2014
Tax season, 2014, will be postponed by at least a week if not more, according to the IRS and explained in the blog update by Safe Harbor LLP. This does not, however, mean a postponement in tax deadlines but rather a postponement in when the IRS can accept returns. Clients are advised to continue with tax preparation for the 2013 fiscal year, including bookkeeping and record-keeping issues and including meeting with their tax advisors to discuss end-of-year strategies to minimize taxes.
Related to this issue, businesses and individuals that have filed amended or late returns recently can expect to see delays in the processing of their refunds. This delay is a direct result of the government shutdown.
IRS Circular 230 Notice
The Internal Revenue Service requires Safe Harbor LLP to inform the reader that any tax advice contained in this correspondence cannot be used for the purpose of avoiding penalties under the Internal Revenue Code or for promoting, marketing or recommending to another party any transaction or matter addressed.
About Safe Harbor LLP – a Professional CPA Firm in San Francisco
Safe Harbor LLP is a CPA firm that specializes in accounting and tax services for individuals and businesses throughout the San Francisco Bay Area and greater California. Safe Harbor CPAs helps both individuals and businesses with tax preparation, IRS audit defense, and audited financial statements. The firm prides itself on friendly yet professional service and utilizes state-of-the-art Internet technology to provide quality customer service.
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