Missouri State Treasurer, Clint Zweifel, recently announced that Missouri residents may obtain their tax refund from the state in the form of a debit card, whether their tax return was filed on paper or electronically. This new option is available for citizens who file individual income tax returns or Property Tax Credit (PTC).
This is the first year the Department of Revenue has offered the debit card option for tax refunds. In order to receive this new feature, taxpayers must check the "debit card" box on the refund line for their 2012 income tax returns or PTC claim. The debit card is issued by J.P. Morgan Chase of New York.
When the debit card is received in the mail, the taxpayer must activate the card online or by phone, and a Personal Information Number (PIN) must be created.
Benefits of the debit card include no check cashing fees, no bank account is required and access to debit card funds is available 24 hours a day. The debit card holders may use the refund card for free to purchase items, or may receive cash back with a purchase anywhere a Visa Card is accepted.
UBM, Money pass and Chase ATMs may all be used to access cash without fees. At other ATM's one free withdrawal is allowed, but an ATM surcharge may apply.
Other refund options include a paper check mailed to the taxpayer or a direct deposit into the taxpayer's bank account.
For more information about the new refund card feature, visit www.dor.mo.gov.