States Looking at Delaying Refunds.

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bmielke

States Looking at Delaying Refunds.

Postby bmielke » Fri Mar 12, 2010 10:28 pm

From UPI

ALBANY, N.Y., March 12 (UPI) -- Officials in states including New York and Hawaii said they may delay sending out state tax refunds due to budget issues.

New York Gov. David Paterson said the state may delay $500 million in income tax refunds to help offset the $9 billion deficit faced by officials, USA Today reported Friday.


Is this even legal?

I can understand a delay, but it sounds like in New York they are not going to send them out period.

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Re: States Looking at Delaying Refunds.

Postby Judge Roy Bean » Sat Mar 13, 2010 12:07 am

New York has been trying to get rid of as many taxpayers as they can.
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Re: States Looking at Delaying Refunds.

Postby Arthur Rubin » Sat Mar 13, 2010 2:27 am

bmielke wrote:From UPI

ALBANY, N.Y., March 12 (UPI) -- Officials in states including New York and Hawaii said they may delay sending out state tax refunds due to budget issues.

New York Gov. David Paterson said the state may delay $500 million in income tax refunds to help offset the $9 billion deficit faced by officials, USA Today reported Friday.


Is this even legal?

I can understand a delay, but it sounds like in New York they are not going to send them out period.
California may issue warrants again, instead of cash refunds. An analysis by a California tax publication I subscribe to suggests that California can delay payments of refunds of returns due April 15 until May 30 without having to pay interest.
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