Governor Paterson Wants To Withhold State Tax Returnshttp://www.wkbw.com/news/local/84640777.html
It is a controversial plan to help New York State pay off debt. Governor Paterson wants to withhold some state tax refunds, in order to help close the budget deficit. Paterson says taxpayers would get their money...eventually...but only after the State got some of their financial issues in order. It is a move that is causing an uproar from Lake Erie to Long Island among residents and lawmakers alike.
Rick Pearl from the Buffalo office of the IRS told Eyewitness News, "...the majority of people coming in today...that's one of their first questions, how long are you going to be holding my money?"
When it domes to your New York State tax return, you could be waiting for quite awhile. Governor Paterson may move forward with a controversial plan to delay State tax refunds. The Paterson administration is considering a plan to withhold $500 million dollars in refunds, in order to help close a $1.4 billion dollar budget gap...
...The State does not have to pay interest on your tax dollars until 45 days after April 15th. In essence, an interest free loan to the State from taxpayers.
I say if they want to raise money, they should sell raffle tickets for a chance to flog state gov't officials with a Roman flagellum. The friggin' budget deficit would be covered in about 5 minutes !