Gov't Shutdown Could Slow Tax Refunds

Last-minute tax filers may feel the government shutdown in their pocketbooks if Republicans and Democrats can't come to a budget agreement by Friday. The Obama administration warned of economic repercussions ahead of the looming shutdown, including a halt on processing paper tax returns. However, the IRS would continue to work with electronic filings. That means that those who are mailing their tax returns old-school style (about 30% do) and haven't gotten their refund back wouldn't receive it until much later. The White House also said a government shutdown would limit small business loans and government-guaranteed mortgages, MarketWatch reported.

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