Thanks to the state's budget issues, "Gov. David Paterson has temporarily halted income tax refund checks, with the last batch going out March 12 and no more scheduled to be sent until April 1," according to the Times Union. Budget Director Robert Megna tried to downplay the delay, explaining that the state has big Medicaid and school payments this month, "We paid all the way up until we hit $1.25 billion (in refunds)." So far, about 1.35 million have their refunds already; the Times Union says, "Typically, more than 5 million of the 9 million New Yorkers who file get refunds, averaging about $1,000 each." more ›

Yet another reason to feel some gloom and doom about the city's budget: $804 million in business tax refunds! The NY Times reports that since companies overpaid their taxes (they estimate based on the previous year's earnings, which were much more flush than now), the city refunded a big chunk of money that's "three times the amount typically returned." The article also mentions: "The surge in refunds is already contributing to a new $285 million shortfall in the current year’s budget, thus making it imperative, city officials say, to cut programs and raise taxes even earlier than anticipated." Better buckle up. more ›