Illinois out of money for income tax refunds

JPStar ^ | 6/28/2011 | Doug Finke

[blueyon]

SPRINGFIELD —

With the start of a new budget year just two days away, thousands of Illinois businesses are still waiting for state income tax refunds dating back to 2009.

The Illinois Department of Revenue said Tuesday it would end the fiscal year June 30 still owing about $620 million in business income tax refunds. As of June 21, the department still owed 7,572 business income tax refunds, although spokeswoman Sue Hofer said the number by the end of the month would be lower because some since have been paid.

The oldest of the overdue refunds goes back to April or May of 2009, she said. The average amount of the refunds owed is $104,000. Hofer said refunds less than $5,000 have been paid.

"There is not enough money in the Income Tax Refund Fund," Hofer said in explaining the delays.

[AlexW]

Michelle, my bell, could give up a few fat-food trips
to Africa, and settle her state’s shortfall....
OK, I know that is beyond their royalty code of ethics.

[Opinionated Blowhard]

Witness the death throes of the liberal welfare state. Stealing money that isn’t their’s to keep the spending going. Like a junkie who borrows money from a family member to buy drugs with no way of paying it back. This is a default. They borrowed and can’t repay at maturity.

[Liz]

The Illinois Department of Revenue said Tuesday "There is not enough money in the Income Tax Refund Fund."

They should ask Mayor Rahm where to get money---the little guy knows where to get lots and lots of money.

After all, before he was Mayor, he was Ohaha's COS AND controlled the e-n-t-i-r-e US Treasury AND put his brother in charge of billions and billions of medicare/Aid and OCare monies.

AND before that.....Rahm was on Wall Street. Heck, everybody knows Wall Street knows how to make money disappear faster than a cream puff at a Weight Watcher weigh-in.

What? You don't believe me? So how come mayoral candidate Rahm announced he had raised a whole $10 million dollars in only three short days?

ROTFL.

[no dems]

Boo friggin’ hoo !!!

[EVO X]

They also have been stealing tax form donations to such charities as breast cancer and Alzheimer's disease the last couple of years.

[Sacajaweau]

ridiculous.....

[count-your-change]

Think of the situation like a business, a coffee shop, where you pay for a cup of coffee with a ten dollar bill and get no change. Why no change?

“Well”, says the cute young thing behind the counter, “the money you pay for the coffee goes in this drawer and your change comes from this other drawer. The change drawer is empty so you get no change.”

So why not take some from the first drawer?

“Oh”, she adds helpfully, “the first drawer is empty too.”

[REPANDPROUDOFIT]

Great analogy! I was thinking more along the lines of writing a check for a brand new car knowing full well that you have 0 dollars in the account!

Yours is better.

[WKUHilltopper]

Funny what would happen to IL businesses if THEY didn’t PAY...

And yet this government isn’t reducing its cost to cover these obligations? Truly criminal.

[all the best]

Of course the state will be paying interest and penalties on these late refunds. Right?

[Mouton]

A great example of why one should NEVER over withhold.

[Waco]

Ill. don’t need no stenkin revenue. This is proof. Now, got to get to it and sto any development of the shale oil deposits,,,Ill.don’t need no stenkin revenue Barney.

[Mad Dawgg]

This is where I start to get real worried.

THE USPS is not contributing to the retirement funds of their workers now.

States continually run out of money to pay Unemployment.

Now many are having trouble paying out tax refunds ( I think it was California who gave out IOUs last year in lieu of tax refunds.)

And in the last few days locally I and a few friends have noticed many lower income people out trying to borrow money. They just walk up to you on the street and ask for 10 or 20 bucks. I know this is more common in bigger cities but around here people don't usually walk up to total strangers to ask for cash.

Twice it has happened to me and both times I asked why they needed it. Both said their food stamps ran out before the month did. 3 other of my friends have had the same experience. Locally grocery prices have jumped considerably especially on staples like bread and milk, potatoes even boxed items like hamburger helper and Mac-n-cheese. And I don't even want to mention meat prices.

What happens if the State doesn't have money for the food stamp program and we have a small disruption in the system for just a few days?

Right now people are asking nicely but how nice will they be if the can't get food for 4 or 5 days?

I fear for my country and I don't think there is much we can do about it right now. I think we have to hit critical mass before we can change direction and get out of this mess!

[abishai]

Maybe the could sell some used Senate seats...

[almost done by half]

"A great example of why one should NEVER over withhold."

As well as file early before they run out of money.

[knarf]

ozero’s fault

[mikey_hates_everything]

Amend the original return and apply the refund to next year’s tax.

[Condor51]

These bottom feeding *Mother's* STOLE $199.00 from my tax refund, so this article isn't news to me. Nor is it funny. Everyone of them should be in %$#&* PRISON.

Since day one of its availability I filed online right through the IL Dept of Revenue. It's free and takes about 10 minutes including printing your final form. And there's never been a problem as you cannot make a mistake.

And this year was no different and like always my 'refund' showed up in the Bank in about 4 business days - pretty darn good. BUT. It didn't look 'right' and I was too busy to double check the amount. And then the next day came 'The Letter'.

'We have reviewed your return and have 'adjusted' it to (blank) amount. See attached page for documentation. If you agree do nothing, if you dispute our finding please forward 'X' along with 'Y' by such date.'

Now this was the 1st time this 'missing' documentation' ever came up and per the online filing you can't even submit it! So you can bet the rent I disputed their 'adjustment' and sent everything they wanted the next day. And then I waited.... And waited.... And waited.... Then after three weeks I called the number on that 1st letter to find out WHERE MY MONEY WAS!!

The *nice lady* who I talked to said: 'We haven't gotten around to those yet'. And I asked, 'Okay, when will it be' She said, 'Oh, not for about 120 to 180 DAYS.' My head almost exploded since 180 days is SIX fricken MONTHS!

Now I should have been a smart ass and asked her if she waits Six Months for her rotten pay check but I was still shocked at the 180 day BS. Anywho I have now resolved it that MY $199.00 is forever GONE and I will never see it.

But that's Okay. As I don't get mad -- I get even.

Actually I do get mad, but try not to any longer.
The results are never pretty ;-)

[rawhide]

No penalties, but interest, yes.