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.

[Condor51]

*** Illinois sucks. I can’t believe I let my Wife talk me into moving here. ***

I know what you mean. I've been here my whole life (almost 63) and for the last decade wanted to GET OUT, move to Montana. But my MIL is now 80+ and won't move so that's that, plus the old 'Too Much Family Here' from the Mrs.

But my idea was that WE ALL MOVE. We pool all our money and buy 100 acres and set up our own little Fenced and Guarded Compound with separate houses on our 'new ranch' land. But then wham -- all of a sudden the dam Libs started buying up all the land in Montana. From Ted Turner to that ABC news mope with the black bushy eyebrows who hated Nixon. And iirc Ted Turner owns the biggest ranch in Montana now (raises Buffalo).

So the 'new plan' is: Wyoming. Ranch Land is still 'somewhat reasonable' there, about $2K an acre.

*** To paraphrase Obi Wan Kenobi: it is a retched hive of scum and villany. ***

:-) True.
Plus every day the Dems running the State prove that Einstein was right once again when he said: "The difference between stupidity and genius is that genius has its limits." That fits the RATS to a TEE, and is why I've been using it for my tagline.

[Condor51]

*** Wouldn’t it be interesting if some nosy newspaper man found out Rahm and other pols and govt employees got IRS refunds? LOL. ***

The only 'Reporter' that would touch that is John Kass of the Chi Trib. He came up the 'news business' the old fashioned way by starting at the bottom, so I use 'Reporter' out of respect. Plus, he's a Chicago guy, born and bred. The son of a butcher.

Every other 'news man' in Chicago is a 'sissy'. Daley made them wet their pants in fear and now they 'tingle' over Rahm. 'Heck', they had Rahm 'knighted' as mayor the day he resigned from the White Hut. To them, no election was even needed. Rahm was the new mayor -- period, end. (bunch of friggen mutts)

[PhilCollins]

I agree with your comment about taxes. Last Nov., I saw State Sen. Chris Lauzen during a meeting of the Illinois Center Right Coalition. He asked all attendees to give suggestions for the government, and he said that he’d give our suggestions to Gov. Quinn. I suggested that they cut the state sales tax rate from 6.25% to 5.5%. I said that many Illinois residents shop in neighboring states, to avoid the high sales tax rate. I said that, if the tax rate is lower, more people will shop in Illinois, causing the state to get more money.

[Southside_Chicago_Republican]

Cut the sales tax. Cut the gasoline tax. Cut the cigarette tax. Cut wherever else we are in disparity with our neighbors. Of course, I don’t expect that to happen with the current outfit in charge, and considering the depth of the hole they have dug for us.