You may have heard that California is broke, and is sending out IOU slips instead of checks for income tax refunds. I thought that I would be safe as I usually owe taxes, but due to an amendment of my return, I ended up getting one in the mail as well. Here is a scan for historical preservation:
Of course, I receive it the day after major banks like Bank of America stopped accepting them. There are some local credit unions that still accept them from members, but as they pay 3.75% interest I might just wait and see how things go.
Hopefully this doesn’t turn out to be really historical, as in “remember when California started printing its own money and the state government imploded?”…
By Jonathan Ping | Taxes | 7/11/09, 9:40pm