WASHINGTON, D.C. (The Adobo Chronicles, Washington Bureau) – Do you owe IRS some money for your 2018 income return? Worry no more.
Because of the continued government shutdown which has all but paralyzed essential Federal services, the Internal Revenue Services (IRS) announced today that U.S. taxpayers will get an automatic across-the-board refund when they file their 2018 returns.
Calling this the “nuisance tax incentive,” IRS said each taxpayer will receive $10,000 in tax refunds over and above their actual, computed tax refund. For example, if a taxpayer is set to receive $2,000 in tax refund, he or she will get back a total of $12,000.
Taxpayers who owe IRS from their 2018 returns can automatically deduct $10,000 from the total amount due. So a taxpayer owing IRS $15,000 will only have to pay 5,000. If the tax due is less than $10,000, the taxpayer will receive the difference as a refund.
IRS said this is its way of ‘compensating’ taxpayers for the inconvenience they are experiencing because of lapses in airport security, closure of government parks, difficulty in receiving appropriate healthcare from public hospitals and clinics, and delays in securing business permits, licenses and other required documents from various government offices.
So, after all, a government shutdown has its perks, and taxpayers have President Donald Trump and our legislators to thank for this financial benefit.