Senator Nozzolio Announces Legislation Requiring Prompt Delivery of State Tax Refunds
Michael F. Nozzolio
March 25, 2015
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ISSUE:
- Taxes
- Income Tax
Senator Mike Nozzolio announced that today, the Senate enacted legislation today that would ensure timely payment of state income tax refunds. The bill, S.1782, requires the State Department of Taxation and Finance to pay tax refunds within 30 days of receiving a taxpayer’s return, unless there is a discrepancy in the return.
Senator Nozzolio said, “If taxpayers have met all the requirements and filed their taxes on time, I believe the least New York State can do is issue refunds in a timely fashion. Taxes in New York are high enough, and this legislation will ensure that our hardworking tax payers do not have to wait months to get their refund checks.”
As the April 15 deadline for filing tax returns within New York State approaches, it is important that all New Yorkers who overpaid their state taxes receive their refunds in a reasonable amount of time. However, there have been many instances of taxpayers having to wait three months or more before they received their refunds from the state.
Under this legislation, if the state is unable to pay a tax refund due to a discrepancy in the return, then the state Department of Taxation and Finance would have to provide written notice to the taxpayer and a date when the discrepancy would be resolved. If the state fails to take these steps, it would be liable to pay interest on the refund owed to the taxpayer.
The measure was sent to the Assembly.
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