where is my ms state income tax refund
Wheres my tax refund?
Common reasons your State, Federal or IRS tax refund has not been issued:
- Prior year tax liability.
- An error on the return or flagged for review for other reasons.
- Time allowed for processing the return. May take several weeks.
- Your tax return has not been received.
- If you or your spouse owe money to the IRS, federal, state, money for back child support, third party or money for overpayment or public assistance, the state may retain all or part of your refund. The state may satisfy certain types of debt including child support and some garnishments this way. If this happens, you will receive a letter stating the tax refund, the amount applied and to whom or what debt it was applied. Depending upon the amount owed, there could be no state or IRS tax refund due you.
- State or IRS tax refund is being applied to your next year’s taxes.
In Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming, you are not required to file a State income tax return. You only need to file your Federal Income Tax Return with the IRS.
The following may delay and/or reduce your state or IRS tax refund:
It can take up to 90 days to process your return and issue your state or IRS tax refund, depending on when and how it was filed. If you e-filed your return, you should have your refund in 7 to 21 days.
- A mailed paper return on or near April 15, may take considerably longer to process.
- You have a new address.
- You owe state taxes for other years
- You owe state or IRS tax debts
- The routing number and/or bank account numbers for your financial institution were incorrect on your return.
- Errors on your state or IRS tax return
Things you can do to speed up the state or IRS tax refund process:
Request direct deposit. This is the fastest way to get your state taxes refund.
where is my ms state income tax refund
Tph (800) 941-9596
Fax (800) 941-9173
Why is my State Refund Taxable?
"Why is my state refund taxable? It feels like I'm being taxed on money I already paid taxes on!"
"What is the point of getting a state refund if I have to pay income tax on it?"
The premise behind these two common complaints is not true, but these complaints show one thing for certain: people resent having to report their state refund check as income. Sometimes after I explain it logically, I get one final comment that goes something like this: "Well, thanks for explaining it. I understand now, but I still don't like it and I plan to argue with you about it again next year."
"Refund" and "overpayment"
The states and the IRS use the words "refund" and "overpayment" interchangeably. The overpayment is what is taxable. For example, a taxpayer has a $2,000 state overpayment and gets a state refund of $2,000. For reasons described below, the $2,000 is taxable. Now let's say that the taxpayer elects to give $500 of his overpayment to the Wildlife Fund, or the Orphans' Fund, or the Firefighters' Fund. His refund will then be only $1,500. Even in this case, the $2,000 is still taxable even though he can deduct the $500 somewhere else on next year's return as a charitable contribution.
How the deduction works
- One deduction allowed on your itemized deductions is state income tax you pay for the year.
- Before you can prepare your state tax return, you have to first prepare your federal return.
- You cannot prepare your state return first and your federal return second.
- When you are preparing your federal return, you do not know yet how much state income tax you are going to pay for the year.
- So the IRS allows you to "guess" the amount for now. If you overguessed or underguessed, you make the adjustment on next year's return.
Stop for a moment. Doesn't this make sense so far?
Here's the problem:
If you still think that the overpayment is taxable or should be taxable, then try this scheme. It will not work, and that is the point. This extreme example will probably make it clear.
- A taxpayer gets an annual salary of $50,400.
- His gross each month is $4,200.00.
- He has $840.00 combined federal income and social security taxes withheld.
- This leaves a take-home of $3,360.
- He goes to his employer and says,
- "Each month I want you to hold out $3,359 state income tax so that I get a check for $1.00.
- I will borrow money from friends and family to live on during the year.
- At the end of the year, I will have a state tax deduction of $40,308. I won't owe any income tax.
- Then I'll file my state return and get a refund of $40,308.
- I'll pay my friends back and I will have saved over $10,000 in taxes.
If you did not get a form 1099-G from the state reminding you of the amount of your overpayment, it does not matter. The overpayment is still taxable.
What if I did not itemize last year?
If you did not itemize last year, then you did not deduct any state tax. Therefore you do not have to "adjust" the amount you deducted. If you did not itemize last year, then your state refund or overpayment is not taxable this year.
Hopefully it makes sense to you now. If this scenario were true, then wouldn't banks replace their billboards that say "The more you IRA, the less you IRS" with "Make a state tax refund loan with us and pay no taxes at all!"?
Copyright © - 2006 Dutch Hawkins Mandeville, LA USA - All Rights Reserved
Where Can I Check my State Tax Refund Status and Filing Information?
[Updated for 2015-2016 Tax Year] There is a lot of focus around this time of the year on folk’s federal IRS tax return, but just as many people need to worry about one or more state tax returns. Every state varies with their local tax rules and refund processing timelines and I thought I would provide a consolidated list of links for the different states tax department websites where you can get all the state related tax and refund information. Most online tax software covers state regulations so you should be covered when filing your federal return through one of these providers, but for some of the more complicated returns the state’s tax website is a useful reference source.
Also if you are wondering where you state refund is, then click on the links to the respective state tax websites below to get your state refund status. However you should wait 24 to 48 hrs after filing your federal and state return before trying to determine your state refund status since federal and state tax systems take a while to pass information between each other. You will generally need your social security number, mailing address. and refund amount shown on your tax return to be able to get your refund status information. See this article for checking your federal tax refund status.
State Tax Refund Processing Times
Processing times for state tax refunds vary by state, but as a guideline and assuming no issues with your tax return filing then you should get your return 7-14 days if you e-filed your return. For paper returns, it can take 6 to 12 weeks from the date you mailed your return to get your refund. So e-filing is clearly the way to go if you want your refund faster.