This page contains a single entry from the blog posted on March 15, 2010 1:40 AM. The previous post in this blog was A shorter circuit. The next post in this blog is Buyouts, layoffs coming at PDC. Many more can be found on the main index page or by looking through the archives.

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Monday, March 15, 2010

Coming soon to your mailbox, not

Your state tax refund, at least in some states. As state governments start dropping into bankruptcy or its equivalent, this could be the coming thing.

Comments (7)

So will the states pay penalties to the taxpayers for not paying on time?

"So will the states pay penalties to the taxpayers for not paying on time?"

They already aren't paying interest on the loan you're giving them when they owe you a refund in the first place, what makes you think they're gonna give you late payment penalties?

Oh, and I already got my Oregon refund at the beginning of February. They held them back to wait for the results of the SEIU taxes... I mean... Measures 66 and 67.

Could an underpayer pay taxes by buying the refund rights of overpayers and assigning those refund rights to the state as a sort of offset?

why don't we all just send in IOU's as a form of protest??

I "owe" them a bit more money this year. Does this mean I can delay when I send it in?

I had read in a mainstream news article that some states that withhold tax refunds WOULD be forced to pay interest back to its citizens owed a refund.

Years ago, the IRS made a data entry mistake on my (then-girlfriend, now wife's) tax return resulting in a refund only 10% that she was owed. We had to file a 1040X to correct the IRS error, but we were advised that the IRS did have a time limit or would have to pay penalties to us. (The revised refund actually was processed very quickly, and the IRS associate at the Federal Building was actually quite helpful in sorting it out...)

Adjust your withholdings and estimated payments, people. Don't give them all the money until 4/15.

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