ALBANY –
Senator Cathy Young (R,C,I – Olean) announced the Senate passed two pieces of
legislation to benefit taxpayers.
The first
bill aims to expedite payment of income tax refunds, and requires the state to
pay tax refunds within 30 days of the receipt of a taxpayer’s return, unless
there is a discrepancy in the return.
“Our
taxpayers deserve to have their hard-earned money refunded quickly. In years
past, the Department of Taxation and Finance held tax returns from individuals
requesting refunds for as long as two months after the date of filing. Unless
there’s a reason to withhold it, anyone who files their returns by the deadline
should receive their refunds in a timely fashion,” said Senator Young.
If the
state discovers a inconsistency in a taxpayer’s return, it must provide written
notice to the individual and a date when the discrepancy would be resolved. If
the state fails to take these steps, it would be required to pay interest on
the refund to the taxpayer.
“This
legislation only increases the state’s accountability to our residents by
determining a reasonable time frame for returning refunds to the taxpayers.
It’s also an important step in revitalizing our economy and encouraging
growth,” Senator Young said.
A second bill
passed by the Senate would make it easier for senior citizens to file for STAR
property tax relief.
“This is
great news for seniors, who should not be burdened by a long, complicated
process to save money. The Senate Majority and I work hard to reduce
unnecessary mandates on local governments that contribute to higher property
taxes, and I am pleased this legislation passed. It not only saves time and
confusion, it ensures our senior citizens’ access to a critical program while
ensuring their privacy is protected,” Senator Young added.
Under the new
bill, the new STAR form would be available to senior citizens whose income or
living situations have not changed since the prior year, and who don’t
participate in the automatic Income Verification Program that is already offered
under STAR.
Both bills
have been sent to the Assembly.
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