Then again, I already figured as much.
Topinka: Illinois’ Unpaid Bill Crisis Just Keeps Getting Worse
SPRINGFIELD, Ill. (CBS) — Illinois keeps falling farther behind on its debt.
As WBBM Newsradio’s Regine Schlesinger reports, officially, the state has a backlog of more than $4.25 billion in unpaid bills.
But Illinois State Comptroller Judy Baar Topinka says when one factors in other bills, the figure is closer to around $8.5 billion.
Those other outstanding bills include tax refunds, employee health insurance, and bills that have not yet reached her desk.
Topinka says this is extremely disappointing, since a year ago, the state sharply increased income taxes (by 67 percent) and corporate taxes.
I now have all the documentation I need, so much of my day tomorrow will be spent doing my Federal tax return and also returns for two states, Missouri and Illinois. I have to do a 2011 return for Illinois because I had one week of work at my Edwardsville based job after the turn of the year, before I was ultimately laid off, though I was told two months earlier, in fact, the day after the elections in November 2010, that I was going to be laid off. But, because I had Illinois earned income in 2011, I have to do an Illinois return. Every penny of Illinois state income taxes that were withheld from that week’s pay will be refunded to me, because my Illinois income in 2011 from that week was too low to have any net tax liability. But…if I actually get that refund from Illinois, with the state’s dire financial situation and its backlog of payables, I’ll be surprised. I’ll put it to you this way: The amount will be under $50, so if I never get it, I won’t really miss it.
This is a conclusion I reached almost a year ago.