Lagging Tax Refunds Are Not News

Zero Hedge has posted a dumb piece on how tax refunds are running behind last year’s pace.

As a matter of fact, refunds have “plunged” because the IRS had to re-write a bunch of code to handle the changes that Congress and the President squabbled over until the last minute.

Here is what IRS Commissioner Doug Shulman said on February 15th:

“We worked hard to update our systems and get the changes in place as quickly as possible. We appreciate the patience of those impacted by the delay. We urge taxpayers to use e-file with direct deposit, and they can get their refunds within days.”

Note to Zero Hedge: the Sheriff of Withholding Town is still walking the beat.