Missouri has $167M of tax refunds still to pay
Tue, 13 May 2014 12:06:48 GMT —
Several hundred thousand Missouri taxpayers are still waiting for refund checks nearly a month after the tax deadline.
State budget director Linda Luebbering says the Department of Revenue has 366,000 individual income tax refunds remaining to be sent. People are owed a total of about $167 million.
Luebbering says the department appears to be behind last year's pace in issuing tax refunds. That's partly because more people waited to file their taxes and partly an effort to manage the state's cash flow.
Through the end of April, Missouri's net general revenues were up just 0.5 percent though the first 10 months of the 2014 fiscal year.
Luebbering says the lag in tax refunds means the state's finances probably are a little worse than those figures would make it appear.