TAX NEWS - JUNE 2010

Missouri Tax: Bill Shortens Deadline For Tax Returns

COLUMBIA - It has been nearly a month since it was due and still, roughly 300 thousand Missourians are waiting on their income tax returns.

A bill that had momentum in this year's legislative session would have prevented delays from ever happening. The bill would shorten the deadline the state has to pay back income tax returns from four months to 90 days.

The house and senate spent a long time perfecting the bill. It has not been signed but it is delivered to the governor. The state sometimes delays tax returns to improve cash flow. That is what it has done now to 20-percent of Missourians. By holding the money it is able to reach into the funding and redirect it to where it is needed. The state also hired less temporary employees to process those funds last year and may have adopted a similar strategy now.  State Budget Director, Linda Luebbering, said the state hopes to finish giving out the refunds by the end of June.

If you have not received your money yet and you would like to track your returns you can do that are the Missouri Department of Revenue's Website.