Posted on 03/23/2005 4:05:34 PM PST by X-USAF
ALBANY - The state is withholding tax refunds to more than a million New Yorkers who filed early, officials said Tuesday.
State Department of Taxation and Finance spokesman Thomas Bergin told the New York Post that state officials put an annual cap on refunds to be paid out before April 1. This year's cap was set at $960 million.
The tax department is holding back $717 million in refunds until April 1 as New York struggles with its finances, the Post reported.
The state has sent out 1.6 million refunds totaling $900 million so far this year. An estimated 1.3 million taxpayers, however, would be affected by the refund cap.
"If the taxpayer owed taxes and was late, they would have to pay a fine," state Conservative Party Chairman Michael Long told the Post. "Is the state going to pay a fine for holding back what they owe to individual taxpayers?"
Bergin said the cap is necessary because the refunds are paid out over two separate fiscal years. Gov. George E. Pataki has proposed moving the state's fiscal year to July 1 from April 1. Bergin said doing so would eliminate the state's need to pay refunds over different fiscal years.
PING
I got mine last Friday direct deposit : )
Where's the consumer groups when you really need them?
LOLOLOL..... poor people reaping what they sowed
I owed them ANOTHER 18 bucks!
This state is so out of control with taxation. I am sure that this year will be the 21st that the budget is late.
"Meanwhile, in related news, Sen Klintoon has set up a liquid asset account, which will funnel all taxpayer refunds into her PAC so that she can invest in cattle futures, and bail the State of New York out of its financial morass!"
"Meanwhile, in related news, Sen Klintoon has set up a liquid asset account, which will funnel all taxpayer refunds into her PAC so that she can invest in cattle futures, and bail the State of New York out of its financial morass!"
Clinton has not and will not come to the aid of NY.
clinton has morass than liquid assets
I filed NY state and fed 2 days earlier than last year, fed comes back early and state 3 weeks later. All direct deposit.
Feds were very quick this year
NYSTATE is a mess.
FRANCE = NEW YORK
USSR = NEW YORK
sincerely from the People's Republic of New York State
New York politicos made it a state of the Union in 1788 but it took them 217 years to solve this problem!
Figure I will pay off my ammo bill from Nam about 2182.
Like they say you eventually pay for the good times.
What is a "Tax Refund"?
Must be a New York thing.....
HAH! I haven't filed yet! Serves them right!
;-)
Seriously, however, I agree with Long. This is another example of NYS grabbing all the tax money they can get.
So let me get this straight, the people of Yew Nork have money belonging to them but held by the state- in limbo because the state can't balance it's budget... Uh Huh, sounds like a liberal plan to me.
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