ABC News just posted a blog titled “Tax Refunds Now on Hold in California” which definitely caught my eye. We all know that the American economy has been suffering as of late, and those of us who reside in the state of California have been feeling the squeeze for quite some time. Although, if we have ever seen a sign of the times, this is it! I have included a snippet from the article below, or click the link above to review the full article.

ABC News has learned that tax refunds are now on hold in California for the first time in state history, according to the state controller’s office.

“Unfortunately, we have asked the California Franchise Tax Board no to send over tax refund claims beginning today because we will not be able to process them and have them out the door by Feb. 1 when a 30-day delay in tax refunds goes into effect,” Hallye Jordan, spokeswoman to California State Controller John Chiang, tells ABC News.

Tags: California, Financial, Money, Tax Refund, Taxes

This entry was posted on Wednesday, January 28th, 2009 at 2:50 pm and is filed under Finance News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.