Last year California refused to pay tax refunds owed to residents, instead issuing IUOs. Illinois, fast on its way to insolvency after CA and NY, is one-upping California by simply refusing to pay refunds - no IOUs or anything. When you don't pay your taxes, they will take your home and throw you in jail. When they don't pay, not much happens. One business owner has been stiffed for 18 months running:
Never overpay taxes to the government, neither local, state or federal. That just gives them an interest-free loan. Adjust your withholding such that you are as close to zero as possible at the end of the year and slightly on the owe side.
No comments:
Post a Comment