Post by Logan on Jan 20, 2016 21:00:01 GMT -6
South Carolina to delay state tax refunds in effort to fight fraud
South Carolina taxpayers won’t get their state income-tax refunds until after March 1, regardless of how early they file as the S.C. Department of Revenue joins a growing list of agencies nationwide taking stricter measures to combat fraud.
“Our number one priority is to make sure your refund ends up in your pocket,” Rick Reames III, the department’s director, said in a statement. “We will not simply stand by and allow thieves to prey on hardworking taxpayers and steal from our state.”
The delay will give the agency time to verify wage documents with the Internal Revenue Service to make sure state returns are legitimate. While employers must send W-2 wage statements to employees by Jan. 31, those documents often don’t reach the IRS until weeks later.
Taxpayers filing after March 1 can expect refunds within two to three weeks of the date those returns are received by the state.
Continued at www.postandcourier.com/article/20160119/PC05/160119297/1505/south-carolina-to-delay-state-tax-refunds-in-effort-to-fight-fraud .
South Carolina taxpayers won’t get their state income-tax refunds until after March 1, regardless of how early they file as the S.C. Department of Revenue joins a growing list of agencies nationwide taking stricter measures to combat fraud.
“Our number one priority is to make sure your refund ends up in your pocket,” Rick Reames III, the department’s director, said in a statement. “We will not simply stand by and allow thieves to prey on hardworking taxpayers and steal from our state.”
The delay will give the agency time to verify wage documents with the Internal Revenue Service to make sure state returns are legitimate. While employers must send W-2 wage statements to employees by Jan. 31, those documents often don’t reach the IRS until weeks later.
Taxpayers filing after March 1 can expect refunds within two to three weeks of the date those returns are received by the state.
Continued at www.postandcourier.com/article/20160119/PC05/160119297/1505/south-carolina-to-delay-state-tax-refunds-in-effort-to-fight-fraud .