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Appreciate the post. I always tell everyone that if they are going to overpay, make it on the Federal. They don't care whether they have the money or not.
LTOnly in government or politics is a "cut in spending" really an increase. It's just not as much of an increase as they wanted it to be, therefore a "cut". -
I wonder how understanding the State of NC would be if one of my clients sent them a note saying, "my business continues to feel the effects of the slow economy, and therefore I am managing the distribution of withheld taxes as a result. I'll be sending you the payment of withholding taxes for the first quarter sometime in October".
They would hit him with a 25% penalty plus 8% APR interest. The state governments should be held to the same standard on this issue that they apply to the taxpayers & employers (but of course it ain't gonna happen)."The only function of economic forecasting is to make astrology look respectful" - John Kenneth GalbraithComment
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Will the state pay interest on these 'loans' from the taxpayers of their state?
The taxpayers could also write their elected state officials and explain to them that this situation is unacceptable and if they can not get their act together, then maybe a bunch of 'blood sucking' fleas shout be put into office.Comment
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Interest
I don't know about other States, but California paid interest on the refunds for the 2008 returns.
SandyComment
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