California Tax Return Status
The payment of your taxes may not be much fun, but getting money back is. If you are wondering about your California tax refund status, I have some news for you.
The idea of the government actually becoming technologically advanced is usually a laughable concept. Well, that is unless it has to do with the military or spying. Everything else, however, has usually been about thirty years behind the current status of things. Well, not as it relates to taxes. Both the IRS and California Franchise Tax Board have gone digital, which makes it easier than ever to know your California tax return status.
The way to check the status of your tax return is to check your tax refund status. This can be done by visiting the Franchise Tax Board site and clicking the check refund link. This will take you to a page where you need to enter some information to get the answer. The required information includes your legal name, social security number and the refund amount. Enter that information and the system will kick you out an answer. The same is true for your federal return.
Now, there is a huge caveat when it comes to your California return. The state is suffering from brutal deficits as you've probably noticed. While this will not effect when your tax return is actually considered filed, it may have a huge impact on when you will get money back. The problem is the state simply doesn't have the money to pay you. In 2009, this meant that the state issued I.O.U. Warrants to people owed refunds.
The warrants really hurt a lot of people. Why? Instead of getting money back in April or May, many had to wait till late October before they could mail in the warrants for a real check. That is a long time, particularly when you are counting on that refund to “get by” when it comes to daily life. While it is unclear what will happen in the years following 2009, most believe this will become a common occurrence and California may very well eventually default on its debt.