Could New Yorkers face delay in getting tax refund?

ALBANY -- Governor David Paterson's proposed budget amendments have a provision to carry the $1.4 billion budget deficit into the next fiscal year through the management of tax refunds. 

CBS 6 Answers Team member Mike Lepkowski of Jackson-Hewitt says the Governor wants to hold on to tax refund money to help relieve the state's budget deficit. According to the amendment proposal, the Governor does have the right to do so.

The good news, though, is that tax refunds are going out faster than Lepkowski's seen in recent years. If the option goes through, that's going to change.

Bottom line, according to Lepkowski -- get your tax refund now, because if the idea is approved, you may have to wait awhile. 

More from the Associated Press (Feb. 16, 4:30 p.m.)

NY Gov proposing delays in paying tax refunds

ALBANY -- Some New Yorkers could see a delay in the arrival of their state income tax refund checks if Gov. David Paterson decides it's the best way to make sure the state has enough cash.

The state currently limits the amount of tax refunds it pays in the first three months of the year to $1.75 billion. Paterson is considering lowering that threshold to $1.25 billion because the state must roll $1.4 billion into next year's budget to close a current year budget gap.

So far the state has paid out $293 million in 281,000 tax refunds this year.

The state has until June to pay the refunds before they start accruing interest.

The governor is expected to make a decision in the next few weeks. 

(Copyright 2010 by The Associated Press. All Rights Reserved.)