Tax Rumors

I am curious. Does anyone know if this rumor is true? Will this years tax refunds be delayed due to the government shutdown? I see that story bouncing around Facebook and I'm not sure what's really up. Also, I'm too lazy to dig too deep into it. Research can send me down the rabbit hole.

True or not, I was never a fan of big tax refunds. I know a lot of people use the tax system as a sort of savings plan. They overpay their taxes so they can get a big chunk of money later. Here's the thing, it's your money and you've just given the government a zero interest loan.

You'd be much better off to zero out at the end of the year. Actually, if you save the money necessary, you come out ahead if you owe them money. At least you've had the opportunity to get a little interest on your money. That takes a certain amount of discipline to actually do it. If you have something like a workplace savings deduction plan it's easier to do.

I used to joke that I don't want the government owing me money. What if they went out of business? Then I'd never see my money. These days it looks less like a joke and more like a contingency plan.

-Sixbears