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California refunds back on track, too

February 19, 2009

UPDATE, March 6:
Despite enactment of a budget,
state tax refunds are still on hold.

The California legislature this morning finally resolved that state's budget crisis and agreed to a plan that Gov. Arnold Schwarzenegger is expected to sign shorty.

The new 18-month budget includes $15 billion in permanent spending cuts, $12.8 billion in temporary tax increases and $11.4 billion in borrowing.

Of particular short-term interest is that the plan should free up money so that the state's tax office can start sending out the refunds that were on hold.

"By passing this difficult budget we keep infrastructure projects moving, keep teachers teaching, keep small businesses getting paid, keep taxpayers getting the refunds they are due and keep California eligible for federal stimulus," Assembly Speaker Karen Bass said in a statement.

Here's hoping that the fiscal deals reached in California and, a few days ago, Kansas are the end this year as far as budgetary impact on tax refunds.

To make sure that you don't have to worry about future state (and federal) refunds, be it concerns about lost checks or sticky-fingered state treasuries, make sure your withholding amounts are accurate.

That way, you'll have your cash in hand during the year instead of waiting to get it back from the tax collector months later.

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The More Tax Posts tab at the top of this page will take you to, well, more tax posts. You also can search below for a tax topic. 

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Getting ready for the year-end tax countdown

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TAX-SAVVY WAYS 
TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

Comments
  • Holly Santistevan

    When are California tax refunds going to be refunded? I hope I can tell them to wait to pay my taxes, like they have made me wait to receive my refund.
    This delay has been a financial hardship. Maybe I can get my refund from the taxes used by legislators to go on unnecessary trips and illegaly spend tax dollars. I am a native Californian and I cannot believe what politicians have done to our state.

  • Randy Koch

    I’d at least like to hear something from the state as to when tax refunds (mine in particular) will be went out.
    I am in in a domestic partner relationship where my partner is disabled. Since we live on only my income, times are always tight.
    If filed my state return on February 1, so come on people show me the money! We are really smarting right now!

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