Paradise is a little more pleasant now
that Hawaiian tax officials are finally sending out tax refunds that
had been on hold.
Earlier this year, the Aloha State
announced it was delaying
issuance of state tax refunds
until July 1.
The extra time allowed Hawaii to push
the tax payouts into the 2011 fiscal year that began in July. By doing
so, the state saved $275 million
against its already projected $721 million fiscal year 2010
revenue shortfall.
Once July
arrived, promised the the Hawaii Department of Taxation, it would
start sending out the refunds.
Well,
the Hawaiian tax collector was true to his word.
The checks are finally
in the mail: Last week, a wave of delayed 2009 tax year
refund checks started going out to anxious
taxpayers.
The
money was due individual, corporate and fiduciary taxpayers who filed
their taxes by the state's April 20 due date. The delivery is on a
"first-in-first-out basis," meaning those filed earliest are being sent out first.
So much for being on the tax ball and getting your forms in on Jan. 20 instead of April 20, eh?
If you
asked that your refund be directly deposited into a local bank account,
you should get your refund on or before July 15. Refunds sent to
out-of-state banks will take an additional business day.
Hawaii tax officials say that paper refund
checks sent by snail mail will take a few weeks longer to arrive.
And if you filed after the April 20 deadline,
then the state will get you your refund within the 90 days it's allowed
by law to process your return.
Hawaiians
expecting money can go to the tax department's
website to check on their refund status.
If you prefer, you can
contact the Taxpayer Services Call Center during business hours at
808-587-4242 or toll-free at 1-800-222-3229 and select the telephone
system's automated "refund status" option.
Pay
yourself, not the tax collector: Meanwhile, if it looks like
you'll be getting a refund from Hawaii (or any state tax office or the
IRS, for that matter) when you file your 2010 taxes, you might want to adjust your withholding now.
That
way you'll get your tax money
throughout this year and won't have to wait on any refund check in case
Hawaii (or your state) has budget issues that again necessitate holding
onto taxpayer refunds.
Related posts:
- State tax refund delays are now the norm
- Where's your refund?
- 10 states in big financial trouble
- Bet on it, states are struggling
- Talking taxes: Adjusting your withholding
- Hawaii becomes a tax paradise lost
- Hawaii tax tidbit: exceptional trees
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