What’s in the envelope? Not enough tax money for California
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California’s tax season is drawing to a close, which means it’s almost the end of a monotonous process where hundreds of workers in Sacramento sift through millions of envelopes stuffed with tax returns.
Although the process becomes more electronic and automated every year, roughly 3 million out of an estimated 15 million tax returns will still arrive the old-fashioned way -- in the mail.
The full story on how they’re processed, from the loading docks to the courier that drops them off at eight different banks, ran in Thursday’s L.A. Times. You can read it here.
There are only a few collection days left, and already some are ready to throw in the towel on a disappointing April. The Legislative Analyst’s Office said Wednesday that the month’s personal income tax revenue will total at least $2 billion less than the $9.4 billion the state hoped for.
‘Surprise late April collections remain a small possibility, but if the current trends hold, they suggest that the state’s revenues could be a few billion dollars below the administration’s January forecast,’ the report said.
Gov. Jerry Brown recently said this year’s deficit, originally projected at $9.2 billion, could grow by at least another $1 billion.
-- Chris Megerian in Sacramento