Connecticut House Bill HB05471

Connecticut 2012 Regular Session

• Introduced: 3/8/12
• Refer: 3/8/12

Caption

An Act Concerning Refund Claim Periods For Sales And Use Taxes And Personal Income Tax.

Impact

The implementation of this bill is expected to significantly impact taxpayers, offering them a longer timeline to initiate claims for refunds. By establishing a definitive claim period, it prevents confusion and ambiguity that might currently exist regarding the deadlines for such claims. If enacted, the bill could help ensure that individuals and businesses do not lose their right to claim refunds due to misunderstandings of the timing requirements, potentially leading to increased satisfaction among taxpayers.

Summary

House Bill 05471 is proposed legislation aimed at clarifying and amending the rules surrounding the period within which taxpayers can claim refunds for overpaid sales and use taxes as well as personal income taxes. The bill specifies that taxpayers may file for refunds either three years after the date of filing a tax return or two years following the payment of the tax, depending on which date is later. This change is designed to provide taxpayers a clearer timeframe and opportunity to recoup funds they may have overpaid.

Conclusion

Overall, HB05471 aims to enhance fairness in the tax refund process, allowing taxpayers a better chance to claim refunds for taxes they have overpaid. The clarity it brings to refund periods may facilitate compliance and transparency within state taxation practices, benefitting both taxpayers and the tax administration system.

Contention

While the bill is largely viewed as a taxpayer-friendly initiative, there may be concerns regarding the administrative burden it could impose on the state's tax authority. Some stakeholders might argue that extending the claim period could delay the resolution of tax disputes and increase the backlog of refund claims the state must process. Additionally, discussions may arise around balancing the interests of taxpayers with the fiscal implications for state revenue collection and management.