March 25, 2010 12:00 am

Some State Income Tax Refunds Delayed

Because of fiscal problems, a handful of states have announced a delay in sending taxpayer refunds. The refunds will eventually be paid, but those expecting to have the funds soon may be disappointed.

In order to obtain refunds as quickly as possible:

  • File as soon as you can. States process refund claims in the order in which they are received.
  • Where available, use the direct deposit option to have your refund transferred into your bank account; this avoids the time it takes to mail the refund to you.

Note: There is no delay in federal tax refunds. To learn whether your state is experiencing refund delays, contact your state tax department. You can find the telephone number for your state through the IRS at www.irs.gov/businesses/small/article/0,,id=99021,00.html.

 

advertisement
Tax Glossary

Amount recognized

The amount of gain reportable and subject to tax. On certain tax-free exchanges of property, gain is not recognized in the year it is realized.

More terms