What is the NC state tax refund status?Published:
For the past two years, North Carolina residents have suffered a long wait for their state tax refund checks. A flagging economy, a low tax rate, and empty state coffers all conspired to equal one simple fact ‘ North Carolina was too broke to pay out their taxpayer’s tax refunds. Even though needing a tax refund in the first place means that taxpayers from North Carolina actually paid more than necessary to the state throughout the year. Uh oh. Things weren’t look very bright for the Tar Heel State.
For the past two years, people who checked their NC state refund status almost always found that the funds were ‘on hold.’ While they did eventually get paid, they could rarely get a straight answer from the state government on the true nature of their NC state refund status. This is why most North Carolina residents found their tax refunds in their mailboxes (or bank accounts) months after other states’ residents saw their tax refunds. So what can North Carolina residents expect for this year’s tax returns and refund checks?
This year NC residents should be happy that their Governor Bev Perdue has decided she will do everything possible to avoid delaying issuing tax refunds to residents. For one, the delayed NC state refund status caused quite a backlash against the North Carolina government. And second, the delayed tax refunds actually cost the beleaguered state more money due to the fact that they paid interest to tax payers who received late tax refunds.
Though the Governor has stated that the state tax refunds will be sent on time this year, many burned taxpayers are still skeptical, citing the fact that the North Carolina economy is still stagnating. Thus, many of the state’s residents still expect that their NC state refund status will be delayed for a few weeks or months as the state needs the money for their own bills. However, the Governor has informed the state government as well as taxpayers that she does not want people to have to wait unduly for the 2010 tax refund from the state. It remains to be seen whether North Carolina’s governor will be able to hold true to her word.