SB17-194
Exception To Deadlines Due To Refund-related Fraud
Concerning an exception to the statutory deadlines for making income tax refunds for returns suspected of refund-related fraud.
Session:
2017 Regular Session
Subject:
Bill Summary
Fiscal Policy & Taxes
Current law requires the department of revenue to meet certain deadlines in sending out income tax refunds:
- 14 days for returns filed in January;
- 21 days for returns filed in February;
- 28 days for returns filed in March; and
- 45 days for returns filed in April.
If these statutory deadlines are not met, a penalty and interest is added as specified in statute. Current law also identifies certain exceptions to these requirements.
The bill specifies that if the department of revenue makes a determination, in good faith, that there is a suspicion of identity theft or other refund-related fraud, then the deadlines do not apply.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)