If you filed your income taxes in late February and early March, you will likely have to wait weeks if you are due a refund.

The governor is delaying state income tax refunds to make sure the state has enough cash on hand to meet financial obligations.

The state limits the amount of tax refunds it pays in the first three months of the year to $1.75 billion. Paterson reduced that cap to $1.25 billion because the state must roll about $2 billion into next year's budget to close the current budget gap.

Delaying payments until April 1 will allow the state to avoid paying out about $500 million immediately.

One local tax preparer said, for the most part, taxpayers are taking the news in stride.

"Individuals struggle with cash flow just like the state. So, each household is probably counting, to some degree, on that money. Some more than others. So certainly there'll be some inconvenience," said Milton Goings, tax preparer.

Goings said most people realize it's not the tax preparer's fault the return will be late, but rather a problem that lies in Albany.

NYS Department of Taxation and Finance