Practical and Practice issues for Professionals who practice in the area of taxation. Moral, social and economic issues relating to taxes, including international issues, the U.S. Internal Revenue Code, state tax issues, etc. Not for "tax protestor" issues, which should be posted in the "tax protestor" forum above. The advice or opinion given herein should not be relied on for any purpose whatsoever. Also examines cookie-cutter deals that have no economic substance but exist only to generate losses, as marketed by everybody from solo practitioner tax lawyers to the major accounting firms.
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.
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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