Early filers drain Idaho tax refund account - Spokane, North Idaho News & Weather KHQ.com

Early filers drain Idaho tax refund account

BOISE, Idaho. - The account that Idaho uses to pay tax refunds has been drained.
     
Gov. C.L. "Butch" Otter is holding an emergency meeting at 2 p.m. to replenish it with $30 million from the state general fund.
     
Otherwise, taxpayers due money back from Idaho wouldn't get a dime.
     
The fund neared zero in two of the last three years, resulting in transfers.
     
But this is the first time the state Board of Examiners has been forced to hold an emergency meeting to fill it back up.
     
Wayne Hammon, Otter's budget chief, says more people due refunds are filing early, taking the state Tax Commission off guard.
     
This could have budget implications, because if the fund doesn't have enough money left to shift the $30 million back to the general fund by July 1, it would boost Idaho's end-of-year deficit.

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