I never wait for a tax return check

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I choose my witholdings on my W4 so that I mail a check to Uncle Sam each April.

Why? Because I get to decide about the disposition of my money (i.e., in an interest-bearing account) versus having the government sit on it each year, interest-free, and then finally getting around to returning it to me the following year.

I'm especially glad this year that that is how I plan it, because the state of California may not be issuing tax refund checks in 2009, but I-owe-you checks instead. Who knows when the IOUs will be able to be cashed.

Ouch! The bad news just gets worse, and all the financial mayhem is related to each other.

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