curiousgeorge
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Post by curiousgeorge on Jun 14, 2015 17:09:04 GMT -5
Filed early April, refund still not paid. How long can states delay payments? Do refunds that remain unpaid earn interest?
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Value Buy
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Post by Value Buy on Jun 15, 2015 8:53:41 GMT -5
Did you mail them in, or go electronic? What state?
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mroped
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Post by mroped on Jun 15, 2015 10:15:09 GMT -5
If you get interest it might be something like .09% or maybe a big fat 0 that will be noted on the statement under "earned interest" But if you were late with your taxes, oh boy! Fines and back charges and a hefty interest would've been deemed apropriate and necessary!
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TheOtherMe
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Post by TheOtherMe on Jun 15, 2015 19:39:25 GMT -5
It depends on the law of your state. The federal government has 45 days from April 15 to get you your refund. The rate for individual taxpayers is generally the federal short-term rate plus 3 percentage points. The rate is rounded to the nearest percentage point.
Check your state's website.
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tallguy
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Post by tallguy on Jun 19, 2015 5:07:29 GMT -5
Filed early April, refund still not paid. How long can states delay payments? Do refunds that remain unpaid earn interest? I had to file a non-resident state income tax return for another state. I saw a notice when I tried to check on my refund that for a first-time filer in that state it can take several weeks to get everything into their system. I later received a correction notice, where they had altered my return to credit me for one month's interest on my refund. So yes, they should be paying interest for a delayed refund. Mine was 1% of the refund amount for the one month delayed.
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