Wednesday, February 10, 2010

Don't Plan Too Hard For Your Money You're Supposed To Get Back This Year

State to delay tax refunds

"Individual and corporate tax refunds to Hawaii residents will be delayed until July 1 as a result of the state's $721 million budget shortfall, the state Tax Department said today.
The action complies with the legally allowed 90-day refund period, according to a news release from the department.
Delaying the refunds will provide an estimated one-time savings of $275 million, which will go toward balancing the budget, according to the release.
The Tax Department said it will release refunds beginning July 1 on a first-in-first-out basis."

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