Blust wants state to pay for late refunds
What happens if you're late in paying your taxes? Among other things, you pay a penalty.
Rep. John Blust, a Greensboro Republican, thinks that ought to work both ways.
Already, the state has to fork over interest if it holds onto tax refunds later than June 1.
Blust's bill, H 1548: Late Tax Refund Compensation, would add a $50 penalty.
"It's kind of like the fine they'd hit you with if you were late filing," Blust said.
Blust would also start the clock on when interest would begin accruing when the taxpayer filed their return, not the day it was due (aka, April 15 for most folks.) In exchange, he gives the state 60 days to make a refund rather than the 45 days it has now.
"We shouldn't be able to cash flow the state on the backs of taxpayers," Blust said.
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