Tax Refunds To Be Delayed in Some States

1 year ago

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Residents of a half dozen states will have to wait up to five months for their tax returns as officials freeze funds because of budget shortfalls, USA Today reported.

Hawaiians may not see refunds until August because the cash-strapped state has pushed the payouts into the next fiscal period, which begins in July.

New York, struggling with a $9 billion deficit, may delay $500 million in refunds to keep the state from running out of money, Gov. David Paterson said.

"It's an indicator of how bad it is," Scott Pattison, executive director of the National Association of State Budget Officers, told the newspaper. "You know things are bad when you have to do that."

Most states typically issue refunds within 30 days.

Officials in California, which in 2009 offered residents IOUs, said they expected refunds to go out on time this year.

States where residents can expect a delayed refund: Hawaii, Alabama, North Carolina, Kansas, Idaho, and New York.

Filed Under: Taxes

Tagged: Daily GUidance, DailyGuidance, tax refunds, TaxRefunds

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