Californians getting an IOU instead of Tax Refunds?
 

The govenator just said Cali is so broke they may have to send out IOU's to Californians because they cant send them their tax refunds

wow just wow

California is broke because they get fucked on federal taxes. They only get back $0.75 for every $1 they pay in.

SECTION 1. (a) The maximum amount of any ad valorem tax on real property shall not exceed One percent (1%) of the full cash value of such property. The one percent (1%) tax to be collected by the counties and apportioned according to law to the districts within the counties.

Fucking amazing..

Just amazing! Yet the government expects you to pay right now when your taxes are due :disgust

lollllllllll thats fucked

going to be a lot of tax non compliance this year.

No. They are broke for other reasons. They have some of the highest property taxes in the country along with State Income tax. They should NOT be broke.

I just sent out an IOU for my mortgage and it worked! Wow,,,

I don't have the money to pay my CA taxes. I am sending an IOU. And yes, I fully plan on battling it in court.

Gotta love Cali.

:1orglaugh:1orglaugh

Brilliant!

Last June the state of California took $6500 out of my business bank account, saying I'd not paid some taxes. In October, they told me they'd made a mistake on the amount, and were going to refund me $3500... in August 2009.

And I thought I was running just a production company... it appears I'm running a bank too.

Ditto!! Tit for tat.

California for life! hahaha

Who will be the first to get smart and set up shop along with some ads and free news press so that they can start buying the IOU vouchers at a discount for cash that day?

Arnold should have accept the bailout offered a few years ago:

http://druglibrary.org/taxes/pressrelease.aspx

Marijuana Dealers Offer Schwarzenegger One Billion Dollars

August 6 (2007) -- A coalition of California marijuana growers and dealers has offered Governor Arnold Schwarzenegger one billion dollars to solve the current state budget crisis. The group, calling itself Let Us Pay Taxes makes the offer through its web site LetUsPayTaxes.com.

The offer comes at a time when the California legislature is deadlocked on a new budget and California has stopped issuing checks for vitally needed social services. Legislators are currently arguing over which programs will be cut in order to balance the budget.

?It is ridiculous that California can?t pay its bills,? said spokesman Clifford Schaffer. ?It is a tragedy that they will cut badly needed services and programs such as medical care for the elderly and prison drug treatment when the money to fund all these programs and more is there and available. Everyone who is currently waiting for a check from the state should be enraged at this foolishness.?

[ Continued... ]

That pot thing is a joke and a pipe dream.

:warning:warning:warning:warning

Wonder if I could pay them my state taxes with an IOU?

:2 cents:

You might just get away with it too. I mean, if the state of California owes me money and they are sending me an IOU, why can't people who owe the state of California money send them an IOU?

What's good for the goose.....

We are on the same boat brotha.... same boat.... I've heard that the IRS can arrange a payment plan or someth'ng like that..... I am not too sure about it .. ive never done it before but this year I am sure I am going to have to use that alternative.... however, I've heard that those guys at H&R block aren't much help when it comes to this kinda stuff....so I am wondering where to file my tax forms this year....:disgust

More than likely same damn reason that if I am late with a payment to them they can fuck me in the ass with crazy interest charges, yet if they are late paying me or accidently screw up and need to refund me some cash that they do not have to pay me any interest.

IOU's a true story if you file past 1/28th or something. wait til taxpaying citizens of our state change their future filings in response to this. it will blow up in their faces if they go with the IOUs :2 cents:

https://youtube.com/watch?v=3Ce957SdCJs

Looks like their trying to ramp up their local economy there. I dunno why theyre advertising california so heavily in the UK, no-one is going there with the pound so weak vs dollar.

Lots of houses being foreclosed on lots of home owners not paying their property taxes.. It's a huge problem.. Schools are going broke, areas can't afford garbage pick up, etc, etc..

I'm sure that there is more to the story than whats been said here. But whatever the case, if they cant pay your refund on time, they should have to pay the same penalties and interest that you have to pay them when you dont pay on time.

i think celente's projection of massive tax protests in the US will be spot on.

It wont work because some how public servants have become the public masters. :error

They're broke because of the credit crisis.

They usually float revenue anticipation bonds to fund activities (like tax refunds, payrolls, etc) until all taxes are collected.

They can't get credit or sell the bonds now though....so they're going to be behind until the taxes are collected.

Yeah it has nothing to do with the fact they are one of the biggest welfare states in the nation LOL See socialism works... if you have enough credit LOL

I can picture the darkies starting riots over it

I'm not a California resident but for any of you that are and might want to point out the errors in their ways the following link would be a great start. I didn't analyze the whole report but as of June 2007 it appears your state had tens of billions on hand in various forms. A good place to start asking Arnold questions is why it appears they didn't do their CAFR in June of last year if they did where is it? Every year before that it was like clockwork.

http://www.sco.ca.gov/pubs/ (notice 2008 is missing)

2007's
http://www.sco.ca.gov/ard/cafr/cafr07.pdf

If/when my state starts talking shit you can bet I'll be using theirs against them.

hope it's 2-ply so my finger doesnt break thru when i wipe my ass with it

and you base this on ? Warren Buffet said the problem is property taxes.He pays more for his house in the mid west in taxes than his 16 million dollar beach house.

ouch that would really suck

just file like normal but screw H&R Block go buy some tax software (TurboTax is what I use) and after you submit it call them to set up a payment plan. It helps to pay as much as you can right then though.

They'll charge you interest/fees/etc but you can pretty much tell them what you can pay and they'll take it. Well... if you owe 10k they're not taking 50/mo but I think you get the point.

Make sure you neeeeeeeeever miss payments though. Those bastards will actually remove $ from your account via some Bank forms they can file :Oh crap

http://www.impawards.com/2008/posters/iousa.jpg

Check out the I O U S A website

An excerpt from the movie:



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