Mon April 15, 2013
It's Tax Day in Rhode Island
Monday is the deadline for filing state and federal income taxes.
The Rhode Island Division of Taxation says state returns are coming in slightly slower than last year because of last minute changes to the federal tax code. As of last week, 75 percent of Rhode Islanders had filed. That’s down about three percent from last year. However, refunds are up three percent to an average of $530.
Neil Downing, a chief revenue agent for the state Division of Taxation, said people who file late pay significant penalties.
"There are two penalties: failure to file and failure to pay," Downing said. "There’s also an interest rate of 18 percent. So with those combined penalties and interest rate all working against you it’s a lot to face."
State tax officials are urging people to file electronically. Refunds come back in three to four weeks if you e-file. It takes six to eight weeks to get a refund from a traditionally filed return.
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