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Tuesday, Oct. 15, is the filing deadline for the roughly 12 million Americans who received an extension on their 2012 taxes. And having 90 percent of its staff furloughed in the partial government shutdown doesn't mean the IRS doesn't want your money.

"The IRS is shut down, but the tax law is never shut down," says Joshua Blank, professor of tax practice and faculty director of New York University Law School's Graduate Tax Program.

One of the few things the Internal Revenue Service is actually doing right now is cashing checks — but it's not issuing them. Don't expect a refund until the government reopens. Most of the agency's other functions are also suspended.

"The IRS is not examining any tax returns for deficiencies," Blank says. "It's not conducting audits. The IRS is not answering phones to answer questions from taxpayers."

The same goes for the media. No one answers the IRS's media line, other than a recorded message about the shutdown.

A Laundry List Of Problems

So instead, I called Margaret Richardson, the former head of the IRS who was in charge during the last government shutdowns in 1995 and 1996.

This time, Richardson is watching the current shutdown from outside government. She says, "I have to confess, I'm really incredulous that it could happen again."

In the 1990s, she says, the IRS office was eerily quiet with so many workers away. There was plenty of black humor among those who remained. But that shutdown came during the holidays. It was a slow time for the agency.

Today is different. Oct.15 has become a big filing day each year.

"I think today's shutdown is potentially much more damaging since it comes as the 2012 filing season is coming to an end," Richardson says.

It's All Politics

Main Street Frustrated By Washington's 'Total Absurdity'

We have been reporting for several weeks now on small businesses in America. Today, we explore a business system where entrepreneurs and corporations come together: franchising. Franchising is a bit like marriage. It takes a good long-term relationship to succeed.

It makes sense to begin a story about franchising and the hairstyling business by looking to Martha Matilda Harper, a servant living in Rochester, N.Y., in the late 19th century. In her spare time, she developed a special hair tonic. The tonic sold well. So she quit and opened a hair salon.

"The women just adored it," says Jane Plitt, a researcher and author of Martha Matilda Harper and the American Dream: How One Woman Changed the Face of Modern Business. "This was a time in 1888 when, usually, wealthy women had their hair dressed in the privacy of their home. But Martha was now doing it boldly in public, and there was a lot of buzz. It was the showcase."

For many online and other small businesses, getting a loan or a big cash advance is tough. Banks and other traditional lenders are often leery of those without years of financial statements and solid credit scores.

But some lenders and other financial services companies are beginning to assess credit risk differently — using criteria you might not expect.

Jeffrey Grossman is an acupuncturist in Bellingham, Wash. He's also a small businessman. He creates media marketing materials for other acupuncturists hoping to expand their practice.

Over the years, Grossman has borrowed money from family and from bank lines of credit, but recently, he needed a quick infusion of extra cash. He turned to a company called Kabbage, an online financing firm for small businesses.

He found the concept interesting, but the application also made him skeptical. "They wanted all this information about QuickBooks [accounting software] and UPS accounts and all this stuff," he says.

Such details, says Kathryn Petralia, a co-founder of Kabbage, allows the company to "effectively build a financial statement." The firm provides financing to small businesses — such as online merchants — that banks typically don't lend to. Petralia says Kabbage uses real-time and verifiable data from things like UPS shipments, eBay and PayPal accounts to assess creditworthiness.

"We can see historical data and current data, and we can see tomorrow's data. And we are looking at information that could be as detailed as what people are actually buying from you," Petralia says.

And she says that can be more useful than static financial documents that banks and other traditional lenders typically rely on.

“ Are customers saying that you are doing a good job? Are consumers complaining about you?

When it finally came out Tuesday, the September jobs report — delayed for 18 days by the government shutdown — showed a labor market moving forward. But the pace was slow enough to prompt many economists to view it as a letdown.

Job growth "is disappointing, given that employment is still down by about 1.8 million from its peak prior to the recession," Gus Faucher, senior economist with PNC Financial Services Group, said in his analysis.

The Labor Department said employers added 148,000 jobs last month — the 43rd straight month of growth. The unemployment rate slipped to 7.2 percent, down a 10th of a point from August. Still, the number of people with paychecks remained lower than before the Great Recession, with many potential workers not even in the game. They were sitting at home, rather than trying to find jobs.

The report showed labor-force participation was unchanged in September at 63.2 percent, but that rate's "long-term decent will continue" unless employers give sidelined workers more reason to resume job searches, Doug Handler, an economist with IHS Global Insight, wrote in his assessment.

Still, beneath the disappointing data, one could find some reasons for optimism in the new year. For one thing, economists are virtually unanimous in saying the relatively weak labor market makes it more likely the Federal Reserve will continue its efforts to stimulate growth.

Throughout the recession and weak recovery, the Fed has used all of its monetary tools to push down interest rates. One of those efforts involves a bond-buying program that has the effect of restraining long-term interest rates. In June, the Fed indicated that U.S. economic growth was getting strong enough that the central bank might begin to "taper" down its stimulus effort.

But given this month's economic disruptions caused by the federal government shutdown — combined with last month's sluggish job growth — the Fed probably will not act until 2014. "A December taper remains possible, but now is increasingly unlikely," Handler said.

Translation: Interest rates probably will still be low on home mortgages come spring.

Meanwhile, the September jobs report showed an increase in construction jobs, up about 20,000 workers. A separate report Tuesday from the Commerce Department showed that in August, private residential construction spending hit the highest level in five years.

So the real estate market may look pretty good for the spring buying season, with fresh inventory and cheap mortgages. A surge in homebuying would boost growth for lots of Americans, in construction, retail, landscaping and so on.

But that optimism assumes Congress will avoid another shutdown and debt ceiling crisis this winter. Congress has set a schedule for itself to complete a budget in January and resolve debt-ceiling issues by Feb. 7. If those federal fiscal matters are resolved in the winter, the economy could brighten with the blossoms. "Job growth should be stronger in 2014 as the drag from fiscal policy on economic growth lessens," PNC's Faucher said.