Missouri Senate approves bill to speed tax refunds

Wednesday, April 21, 2010 | 11:39 a.m. CDT

JEFFERSON CITY — Missouri senators endorsed legislation on Tuesday that would force the state to pay interest on tardy income tax refunds on.

Currently, Missouri has 120 days — or until mid-August — from April 15 to process income tax refunds before the taxpayer is owed interest.

The bill approved by the Senate would require interest to be paid after 90 days. The measure now goes to the House, which already has passed a similar bill.

Missouri was among several states that delayed tax refunds last year to boost cash flow.

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