Galloway to Audit Tax Refunds
Auditor Nicole Galloway announced that her office will “ensure the state is not holding on to tax refunds due back to citizens. Auditor Galloway announced she has started an audit of a state law that requires the Missouri Department of Revenue to process personal income tax returns and send out refunds within 45 days of filing. If refunds haven’t been paid within 45 days, the state must pay them with interest… The General Assembly changed the law in 2015 amid criticism that the state was too slow in processing tax refunds. Under the previous law, the state had 90 days…”
I wonder if this is related to my observation on February’s revenue numbers that state refund dropped dramatically – a decrease of about 26%. Perhaps that decline was from Revenue holding people’s refund checks to manage cash flow? We’ll see if the audit confirms this suspicion.
Originally in March 9 MOScout.