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the CPA Moms * CA Holds State Refunds
California State Controller announces delay for tax refunds
Due to the state's persistent cash and budget problems, the State Controller announced on Friday, January 16, 2009 that he will have to delay refunds for 30 days starting February 1, 2009 for Personal Income Tax and Business Entity taxpayers.
Califonia will still processing returns as normal. However, it is likely this delay will affect state refunds for most early filers. Returns that have not completed processing before February 1, 2009 will have their refunds held for 30 days.
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This applies to all refund types. Delayed Direct Deposit Refunds (DDR) will be electronically transmitted when funds are available.
State controller John Chiang said in a press release that expected cash shortages in February "will force him to delay some critical payments next month," including money owed to businesses for services provided to the state, rent and food aid for older and disabled Californians. Money for certain state services and tax refunds for 2008 taxes will also be affected.
Payments for education and debt service have first claim on the state's general fund under the state constitution, federal law and court rulings. If state lawmakers don't address the budget situation, failing to delay certain other payments will put the state $346 million in the red in February and $5.2 billion in the red by April, the controller said. See more on payment delays on California state controller's Web site.
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Governor Arnold Schwarzenegger on Thursday called on state lawmakers to close the state's steep budget deficit, expected to hit $42 billion over the next 18 months.
During this difficult economic time, the payment delays will be particularly bad news for some state residents, many of whom are likely hoping for a quick tax refund payment.
Under state law, the state has until May 30 to start paying tax refunds, said Hallye Jordan, spokeswoman for the state controller, in a telephone interview. "Traditionally the state has encouraged people to file early and get their refunds quickly. It's been more of a practice that established the quick turnaround, rather than a legal requirement," she said.
Check on your California Tax refund http://www.ftb.ca.gov/online/refund/index.asp
Who are the CPA Moms? Your Tax Professional Forever!!!!
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“CPA Moms - Tax Moms - EA Moms" are trade names given to Accounting and Tax Professionals who chose to work in an “relaxed” environment. Some "Moms" work from home, other work from personal offices. Not all are Moms, there are some Dads. We call them Mr. Tax Moms. CPA Dads or Enrolled Agents Dads.
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Each Mom is independent. Once a client starts working with a Mom, the client will keep the same “Mom” year after year regardless of where the client moves or relocates. Being in a “relaxed” environment has many advantages. Lower overhead, faster response time, more availability, etc.
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To be a member a CPA Mom, Tax Moms, or an Erolled Moms the Tax Professional must ALWAYS be in good standing with their state licensing agency, experienced, and must demonstrate a high level of ethics, professionalism and proficiency.
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Tax Net Inc, the parent company for all CPA Moms, Tax Moms and Enrolled Moms, developed the marketing and on-line systems to help qualified Tax Professionals who "choose" work from their “relaxed” environment and offer better service at a lower price to the consumer.
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Since the “Moms” do taxes and accounting of all complexities, there is always a Mom available for every level of work. Since each Mom has a private 800 number, you are just a phone call away, regardless of where you live.
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For reliability and dependability of Tax Net, Inc, the parent company of the “Moms” organization click on the Better Business Bureau (BBB) icon. To Join CPA Moms
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Index of Articles about the CPA Moms
What Other Authors say about the CPA Moms
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Tax Credits for Retirement Savings
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It is a well-known fact that Americans are miserable failures when it comes to saving for retirement. Well, the government is offering tax credits to change this for some of us.Tax Credits for Retirement...
In the articles shown above on this web site you will find information that has been collected from many independent sources. Each article or item may offers a different point of view, but not necessary that of the CPA Mom's. This information is for general information only.
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