Sunday, March 14, 2010
States May Delay Tax Refunds
Several states (Alabama, Hawaii, Kansas, New York, North Carolina) are considering delaying tax refund checks because of state budget shortfalls.
- ABC News, Check's in the Mail -- State Tax Officials Refute Worries of Refund Delays
- CBS News, Some States Delaying Tax Refund Payments
- USA Today, States May Hold Onto Tax Refunds for Months
https://taxprof.typepad.com/taxprof_blog/2010/03/states-may-.html
Comments
The delays are a sign of severe State mismanagement. The combination of overspending and taking on debt could lead to a large crisis. For more on the states problems and delays see: www.bestandworststates.com
Posted by: Susan D | Mar 21, 2010 6:59:07 AM
If the delay of tax refund is reasonable then I'll comprehend. However if the delay is done because of some mouse play with their staff and everyone involves in the refunds, then I really hope they wond mind me to delay my tax pay.
Posted by: Imperial Accounting Solutions LLC | Mar 14, 2010 11:13:07 AM
Maybe the states won't mind if taxpayers who owe delay paying also, or they can pay with IOU's like California did last year. If I were in charge (and there's no chance that I ever will be), I'd stop paying on a lot of things before I put off taxpayers. You can bet there's going to be a lot of adjusting of W-4s this year to insure that no one overpays for 2010.
Posted by: Woody | Mar 14, 2010 10:14:11 AM
If you're expecting a refund on your 2009 state tax return you might consider applying the refund to your 2010 return as an estimated tax payment. You'll get prompt credit for the payment, and you won't have to wait for a refund which your state may not be able to send you any time soon. You should also adjust your withholding so that next year you owe on your tax return rather than the other way around.
Posted by: Michael Velez | Mar 30, 2010 1:21:47 PM