In North Carolina they have decided to delay their income tax refund checks.
The North Carolina officials will not send out state income tax refund checks until almost a year after they are due. North Carolina need to monitor and assess their tax flow so they can send out the refunds that are due.
According to these officials all North Carolina taxpayers will receive the refund that they are due just not for some time. The problem they are having is that they have a $2 million dollar deficit in their budget. They simply do not know where to get the money to pay it's taxpayers back for the taxes they overpaid. They used the overpaid tax money and now cannot find the money to use to pay them back.
They took $300 million dollars from funds such as school textbooks and lottery to make sure that they can simply pay back the people they owe. They may take money from other special sections to pay back tax payers. These special sections include healthcare, social security, and education.
Although they are blaming it on the economy bad money management seems to be the trouble that North Carolina is having. Many people have become angered as they have not received their checks yet. Tax payers have begun to call the IRS and complain. The officials from North Carolina say that the checks are on their way but need time to process. As many of the people that called in were set up for direct deposit they have no checks to be waiting for but still have not gotten a refund.
It seems as though the state seems more than happy to take in taxes but aren't planning for the amount that they are taking over what they are allowed to take. They need to pay back the tax payers what they are due and make sure that nothing similar happens in the future. No matter how be the economy does the state cannot keep borrowing money from the taxpayers if they cannot give back the money they owe. The economy may be bad now but in order for it to return to a good state it is simply unacceptable for a state to borrow from its people to pay its bills.