Will federal spending cuts delay tax refunds?
Fri, 01 Mar 2013 17:48:52 GMT —
Here's a bright spot amid the doom and gloom of the government's automatic spending cuts: They shouldn't delay tax refunds.
Any furloughs at the Internal Revenue Service will be delayed until summer, after the tax filing season ends. That's according to acting Commissioner Steven Miller, who sent employees a memo saying he wants to minimize the impact on taxpayers and IRS workers.
Miller says employees could be furloughed for five to seven days, if the spending cuts remain in effect this summer.
The IRS boasts that most taxpayers get refunds within 21 days, if they file electronically and get refunds deposited directly into bank accounts.
The spending cuts, known as the sequester, are to take effect Friday.