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Friday, May 28, 2010

Tax refund delay: 53,000 state income tax refunds delayed


If you filed your taxes and you are expecting a refund, you may have to wait if you live in Rhode Island. Your state refund may be delayed and there's not much you can do about it.
When will you get your Rhode Island state tax refund? The state expects that all refunds will be paid by the end of the fiscal year.
Bottom line, the cash flow in Rhode Island is just not flowing.
So, if you need that tax refund money to repair something in your home or pay some bills, you might want to practice a little patience.
Right now, $36.3 million in refunds owed to 53,000 Rhode Islanders, so get in line.
If you need an idea how far behind the state is running when it comes to getting you the cash you're owed, a batch of 18,577 refunds that were processed and ready to be issued on April 26 have not been distributed yet. There are also weekly batches from May that have been held.
The state has 90 days, by law, before it has to pay interest on the late refunds. However, several legislators just introduced a bill that would force the state to pay interest sooner than the law states on delayed refunds.

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