TAX NEWS - August 2009

georgia income tax: Georgia Department of revenue Issues 62,000 Income Tax Refunds

ATLANTA – The Department of Revenue this week mailed 62,000 income tax refunds to Georgia taxpayers. The Department also released updated 2009 income tax refund processing figures.

As of today, the Department has issued over 3.05 million income tax refunds. Electronically filed tax returns are being processed timely with refunds either mailed or direct deposited within six days of receipt. Following is an updated processing schedule:


CURRENT PROCESSING TIMES FOR PAPER TAX REFUND RETURNS:

- Currently working paper returns received between April 18 and April 20
- Tax Refund checks for these tax returns will be mailed between August 7 and August 11


PAPER RETURNS RECEIVED REFUND CHECKS WILL MAIL

April 21 – April          30 August 12 – August 18
May 1 – May 31            August 19 – August 25
June 1 – August 7         August 26 – August 31

REMAINING BACKLOG (as of August 7, 2009)
- 14,500 refund returns (postmarked on or before April 15)
[Note: Approximately 82,000 refund returns postmarked after April 15]


INTEREST ON INCOME TAX REFUNDS

Taxpayers who filed a timely, completed tax return on or before April 15 will receive interest (1% per month) if their refunds were not issued within 90 days.

Interest checks will be mailed separately within approximately 60 days.