<p>I heard on the radio this morning that the state of California may not be able to issue state tax refunds to taxpayers in 2009. Instead, they may issue IOUs. </p>
<p>Wanted to post this for all those who continually post about how to get instate tuition at the UCs.</p>
<p>I saw something like this happen in another state but I don’t recall when or where. I guess residents can drop their withholdings if CA does it like the Feds.</p>
<p>We seem to be in a downward spiral for state revenues and business activity and I wonder if our current financial problems will result in widespread and lasting changes to state colleges and universities in who they accept and how many they accept.</p>
<p>I wonder if the state would take an IOU from me for the next 5 years of taxes I might owe, or maybe my portion of sales tax. I’m a resident.</p>
<p>I remember that one year the State of CA gave vouchers to vendors in lieu of $$. There has got to be some changes made to how the budget process works in this state.</p>
<p>how about if they offer to reduce your tuition bill by the amount of your refund if your kid is in a state college. That sorta shifts the problem to the college’s balance sheet then. </p>
<p>Sorry that is the budget analyst in me talking…</p>
<p>I like all your ideas. Perhaps the Governator will too 
The other thing my accountant told me is that estimated quarterlies are now going to be paid 30/30/20/20 instead of 25/25/25/25.
Sort of like the state taking a cash advance on it’s paycheck isn’t it?<br>
I guess they don’t realize it will catch up eventually.</p>
<p>I’m surprised that they don’t go 30/30/30/30 on your taxes instead of 30/30/20/20.</p>
<p>BTW, I received an audit notice and a packet of stuff from the state. I spent a few hours gathering all of my documents from several years ago, figured out what I owed them, drove to the revenue office and wrote them a check for a dollar or two. I’d guess that they spent about $50 to do the analysis and packaging of the audit notice and packet. They’re either really beating the bushes for revenue or their computer system needs a higher cutoff point.</p>
<p>^^^ ROFLOL! Spoken like a true budgeteer (I used to be one.)</p>