Business

Missouri Should Address Slow Tax Refund

Many are all eyes with the income tax refunds processing for the state of Missouri in 2018. Nicole Galloway, the auditor of Missouri, published the most recent audit made of the income tax refund process which is under the state. The audit has shown that there are many reasons why people should be concerned. This also involves those taxpayers who are applying for a Missouri tax ID.

Because of the audit, a misunderstanding has been going on between the governor, Eric Greitens, and the auditor, Galloway. According to Galloway, the administration of Greitens has been trying to stop the audit from happening which is why she decided to send a subpoena on April of 2017 to the Department of Revenue. The subpoena was sent in time when she needed the information that was attached to it.

The spokesperson of Greitens said that a Democrat used the audit as a poly with political agenda behind it as they are looking to make the headlines. He added that the current administration is now making the appropriate changes in order to correct the wrong practices that have been employed in the past.

Despite the arguing and throwing of shades on both parties, no one is questioning the result of the audit. It does not matter if the audit was done with political motivations or it was caused with an aim to help the taxpayers because the audit clearly shows that there have been some troubles when it comes to managing the tax returns as well as the refunds of the state. It has been going on for two administrations and is only getting worse with time.

According to the findings in the audit, there are delays with the individual tax returns. The most delays were found in 2015 until 2017. According to the law, if the payments are delay it should carry an interest which will be covered by the state and paid to the taxpayer after 45 days.

While people in are applying for a Missouri Tax ID, the state have budget deficit which is why tax returns are not paid on time for the tax seasons causing the delays.