States May Hold Onto Tax Refunds For Months

Due to the difficult economic times, some states have decided that they may need to delay sending out tax refund checks. These are very difficult times for many states and the recession has caused many states to consider making taxpayers wait up to five months for their refund.

It has been reported that New York, hit with a $9 billion deficit, may delay $500 million in refunds to keep the state from running out of cash according to Gov. David Paterson.

Officials in the following states say they have had to delay issuing refunds or consider doing so because the state might not have the cash on hand to cover the checks.

* Hawaii
* Alabama
* North Carolina
* Kansas
* Idaho
* New York