Commonground
Senior Moderator
Published: Friday, 5 Mar 2010 | 10:50 AM ET
This year, more Americans and businesses may be asking: Where's my tax refund?
That?s because cash-strapped states such as North Carolina, Alabama and Hawaii have been forced to slow down issuing income tax refunds to individuals and businesses because of a lack of funds in their budget. Kansas has hinted that a delay might be possible, and processing paper refunds in Iowa has slowed because the state doesn?t haven?t enough employees to get them processed faster.
Another state, New York, is still considering whether they?ll follow the likes of Hawaii and delay refund payments.
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New York is currently considering delaying some $500 million in refunds to alleviate a $1.4 billion deficit, said Matt Anderson, a spokesperson for the New York State Division of the Budget.
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Iowa has a different problem: while the state has the funds for income tax refunds, it can't afford to pay a staff to process the paper fillings. Fifty employees worked on processing paper refunds last year. This year there are none.
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http://www.cnbc.com/id/35693387//
This year, more Americans and businesses may be asking: Where's my tax refund?
That?s because cash-strapped states such as North Carolina, Alabama and Hawaii have been forced to slow down issuing income tax refunds to individuals and businesses because of a lack of funds in their budget. Kansas has hinted that a delay might be possible, and processing paper refunds in Iowa has slowed because the state doesn?t haven?t enough employees to get them processed faster.
Another state, New York, is still considering whether they?ll follow the likes of Hawaii and delay refund payments.
-snip-
New York is currently considering delaying some $500 million in refunds to alleviate a $1.4 billion deficit, said Matt Anderson, a spokesperson for the New York State Division of the Budget.
-snip-
Iowa has a different problem: while the state has the funds for income tax refunds, it can't afford to pay a staff to process the paper fillings. Fifty employees worked on processing paper refunds last year. This year there are none.
-snip-
http://www.cnbc.com/id/35693387//