A short post today – its Easter!
I caught up with a friend of mine from California and we talked about the state of the economy over in the US. He said he’d been offered an IOU instead of a tax refund earlier this year. I was amazed at his story!
But yes, the state of California is so hard pressed for cash -that it has had to delay paying taxation rebates to residents. I wonder what would happen if my friend decided that he couldnt afford to pay his taxes. Could he issue the state with an I.O.U. and get away with it? Surely that’s criminal Mr. Terminator? So where’s the money gone?
http://blogs.abcnews.com/thenote/2009/01/tax-refunds-now.html Click on the link and check out some of the comments about the state of californias taxes – people there aint happy!
That’s hard to believe isn’t it. I wonder if he can demand penalty interest while he awaits payment?