Monday, May 31, 2010
Meanwhile - in Rhode Island - Wait grows longer for tax refunds
Problem is: it's not their money to set aside. It's their citizens money...
At Projo.com, Neil Downing writes about Rhode Island's money troubles:
"The refund delays are intended to make sure there is enough money to pay about $350 million in borrowings — known as tax anticipation notes, or TANs — due June 30, Dion said. “Everyone knows how volatile the economy has been in the last two years, so the state has taken steps to set aside money in advance,” he said.
To taxpayers, Dion advised, “Be patient. We are paying refunds as quickly as our cash flow allows us.”"
