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States may hold onto tax refunds for months
ncbm ^ | 3/12/10 | William M. Welch, USA TODAY

Posted on 03/12/2010 9:18:00 AM PST by Nachum

Residents eager to get their state tax refunds may have a long wait this year: The recession has tied up cash and caused officials in half a dozen states to consider freezing refunds, in one case for as long as five months.

States from New York to Hawaii that have been hard-hit by the economic downturn say they have either delayed refunds or are considering doing so because of budget shortfalls.

(Excerpt) Read more at ncbm.org ...


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: happybirthdaymitt; months; refunds; states; tax
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Reprinted from another site. USA today prohibits links from Free Republic.
1 posted on 03/12/2010 9:18:00 AM PST by Nachum
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To: Nachum

hope and change.....


2 posted on 03/12/2010 9:20:07 AM PST by mom4melody
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To: Nachum
I told my wife I didn't trust the FEDS or the State so I filed by Jan 27th because I had all the info and I didn't want them holding up MY money. I have already received both my refunds.

NJ can wait until the last minute because its usually a push anyway.

3 posted on 03/12/2010 9:21:35 AM PST by frogjerk
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To: Nachum

Fortunately we here in Texas do not have state income tax and requires the peoples vote to institute one.


4 posted on 03/12/2010 9:24:02 AM PST by Bruinator (God is Great.... Beer is good.... people are?)
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To: Nachum

This should be illegal. People are asking for their overpayments back. It isn’t the State’s money and if the State used it, that was an illegal act: theft pure and simple.

Someone should sue (I am not in this situation in any of the states I file, so it can’t be me).


5 posted on 03/12/2010 9:26:11 AM PST by freedumb2003 ( Tagline lost -- anyone seen it?)
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To: Nachum

Its a one-shot gig ... people will just stop overwithholding.

God Bless Texas.

SnakeDoc


6 posted on 03/12/2010 9:28:58 AM PST by SnakeDoctor (The night is darkest just before the dawn, but [...] the dawn is coming. -- Harvey Dent)
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To: Nachum

We filed in late February and already got our CA refund. They were quicker than the Feds this year.


7 posted on 03/12/2010 9:32:32 AM PST by jiggyboy (Ten per cent of poll respondents are either lying or insane)
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To: Nachum

Can’t wait to see the “I don’t mind paying more taxes as long as I get more services” crowd has to say when they get stuck with this.....


8 posted on 03/12/2010 9:32:52 AM PST by Tzimisce (No thanks. We have enough government already. - The Tick)
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To: Nachum

But remember, if you hold on to your taxes for a few months because of cash flow issues guess what happens to you.


9 posted on 03/12/2010 9:35:31 AM PST by garbanzo (Government is not the solution to our problems. Government is the problem.)
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To: freedumb2003

Ya know..now i know why people work off the books. Maybe more americans should do that. You dont have to worry about screwing up your chances for social security or medicare. There wont be none left anyway.

People cant make ends meet thru no fault of their own. These states and this country cant manage money..so their best idea is to keep ours, that doesnt belong to them.

We should hunt for another country. With all that is going on lately, this place called america seems foreign to me.


10 posted on 03/12/2010 9:35:53 AM PST by New Yawk Minute
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To: Nachum

Bookmark


11 posted on 03/12/2010 9:36:13 AM PST by dragnet2 (Millions of unionized government employees are gang raping America)
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To: Nachum
If we delay tax payments, we are hit with interest and penalties.

When states delay tax repayments, they are given free interest.

Oh, and citizen: If you complain, we will kill you.

12 posted on 03/12/2010 9:38:52 AM PST by Lazamataz (Proudly hittin' it without looking at the picture since 1999.)
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To: Nachum
Apply your "refund" to your 2010 taxes AND divert that amount from your withholding on current earnings.
13 posted on 03/12/2010 9:41:19 AM PST by Myrddin
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To: Nachum

Random data point. It took three days from e-filing for my state tax refund (MD) to be deposited into my checking account. My refund was *not* small.


14 posted on 03/12/2010 9:44:31 AM PST by CountryBumpkin ("We are a nation that has a Government, not the other way around" RWR)
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To: CountryBumpkin
My refund was *not* small.

That means you overpaid and gave the socialists in Annapolis an interest free loan. I would consider increasing deductions so you get a smaller refund or owe a small amount next year.

15 posted on 03/12/2010 9:57:13 AM PST by rllngrk33 (0bama, proof we can no longer underestimate the stupidity of the voters.)
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To: SnakeDoctor

Seems that that would suffice, however see this link. http://articles.latimes.com/2009/oct/31/business/fi-state-tax31 CA dems are very, very sleazy, including that RINO Gov.


16 posted on 03/12/2010 9:57:27 AM PST by bobonthejob
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To: CountryBumpkin
My refund was *not* small.

Country Bumpkin - how fitting... loaning the government a big amount of your money for free.

"A fool and his money are soon parted" comes to mind.

17 posted on 03/12/2010 10:00:35 AM PST by MrDem (Founder: Democrats for Cheney/Palin 2012)
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To: SnakeDoctor
"Its a one-shot gig ... people will just stop overwithholding."

Hope there's a mass movement to this. Should do it for the Feds, too, but too many people are stupid and think they're getting free money when they get an income tax refund.

18 posted on 03/12/2010 10:00:43 AM PST by DJ Frisat (How's that change workin' out for ya, Obama voters?)
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To: SnakeDoctor

We just did that this week. Every year this seems to get worse. Time to deny the spenders your money.


19 posted on 03/12/2010 10:00:50 AM PST by dforest
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To: indylindy

I live in Texas, too - nanner nanner nah nah


20 posted on 03/12/2010 10:02:05 AM PST by gthog61
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