The New York State Senate today passed legislation (S2152) sponsored by Senator Carl L. Marcellino (R, Syosset) that would ensure hardworking taxpayers receive timely payment of state income tax refunds. The bill requires the state Department of Taxation and Finance to pay refunds within 30 days of receiving a taxpayer’s return.
Senator Marcellino said, “No matter what the situation is like in Albany, having the state hold onto this money is just not right. It’s not the state’s money—it’s YOUR money. I think the state can do better and this legislation would make sure that they do.”
As the April 17th state tax deadline for filing returns approaches, it is paramount that all New Yorkers who overpaid their state taxes receive refunds in a timely manner. However, there have been numerous incidents of taxpayers having to wait three months or more before they received their refunds from the state Department of Taxation and Finance.
Under today’s bill, if the state is unable to pay a tax refund due to a discrepancy in the return, then the department would have to provide written notice to the taxpayer and a date when the discrepancy will be resolved. If the state fails in this obligation, it would also be liable to pay interest on the refund owed to the taxpayer.
The bill will be sent to the Assembly.