If you've already filed your taxes in the state of Missouri and are due a refund, you certainly want to make sure that you get your money as soon as possible. It's easy to check your refund status online.
Checking on Your Refund
Missouri state tax refund information is usually available five business days after filing electronically or three to four weeks after mailing your paper return.
To track your refund, go to the Missouri Department of Revenue website. Under the "Taxation" heading, click on "Individual Tax" and then "Check Return Status (Refund or Balance Due)." This will bring you to a page with a blue box that says "Get Started." Clicking on that box will bring you to the Missouri return tracker where you can check the status of your refund.
You’ll need certain information to proceed:
- Social Security number
- Filing status
- Expected refund or balance due
- Tax year of the return
If you can't get the information online, you can call the Missouri Department of Revenue at 573-751-3505.
Read More: IRS State Tax Refund Information
Possible Refund Delay Problems
Be aware that some things could cause a delay in receiving your refund:
- Math errors in your return
- Using more than one type of form to complete your return
- Missing information on your return
You should carefully review and check your return to make sure everything is correct before you submit. Also keep in mind that the fastest way to get a tax refund is to submit your tax return electronically and request that the refund be made by direct deposit.
Not Getting a Refund?
If you are not due a refund and find yourself constantly having to send a check each year to pay taxes, you might need to adjust your withholding taxes or your payments for estimated taxes.
You can use the withholding calculator available on the Missouri Department of Revenue website to help determine your recommended withholding amount. If you want to change the amount of your withholding taxes, you can submit a revised MO W-4 to your employer.
Check on Your Federal Income Tax Refund
To check on your federal income tax refund, click on "Refunds" on the Internal Revenue Service (IRS) website.
Like the state of Missouri, you’ll need certain information:
- Social security number
- Filing status
- Exact whole dollar refund amount
You can check on the status of your federal refund within 24 hours if you submitted your return electronically. If you mailed a paper return, refund information will not be available for four weeks.
The IRS refund status page will tell you when your return was received, the day it was approved and the date the refund was sent.
Read More: When Can You Get That Tax Refund?
What to Do With Your Refund
Getting a nice tax refund gives you the opportunity to improve your financial health by paying down debts or increasing your savings. There are a number of good options that might work well for you.
- Pay down credit card debt: Paying down your credit cards will reduce your interest expense and improve your credit score. Aim to get your credit utilization below 30 percent.
- Add to your emergency fund: Reduce your stress of getting hit with the sudden, unexpected expenses by maintaining three to six months of your monthly expenses in an emergency fund.
- Make home improvements: Make improvements to your home, like remodeling kitchens and bathrooms, add to the resale value.
- Contribute to your savings: Invest your refunds in assets that will grow in value over time, like mutual funds.
- Set aside money for big-ticket purchases: Open up a separate savings account if you have a goal for a big-ticket expense, like a vacation or a down payment on a house.
References
Resources
Writer Bio
James Woodruff has been a management consultant to more than 1,000 small businesses. As a senior management consultant and owner, he used his technical expertise to conduct an analysis of a company's operational, financial and business management issues. James has been writing business and finance related topics for work.chron, bizfluent.com, smallbusiness.chron.com and e-commerce websites since 2007. He graduated from Georgia Tech with a Bachelor of Mechanical Engineering and received an MBA from Columbia University.