Waiting for your Guam tax refund? Monday may be your day
It's wonderful what a court order can do for taxpayers. With the arrival of Section 30 money, GovGuam should be able to meet its obligations immediately to those who filed before the deadline last April.
About 15,000 tax refund checks will be printed Friday and sent out Monday. The Department of Revenue and Taxation, and Department of Administration have started the process to pay out the tax refunds. This batch of checks represent $35 million for tax payers who filed through April 3. A second batch of tax refunds will be processed and sent out soon after. “This is a continuation of my administration’s commitment to smart fiscal management, which requires we live up to our obligations. We have always prioritized refunds owed to the people of Guam,” Governor Calvo said. Each year, the amount of tax refunds, in which Earned Income Tax Credit is often looped, has increased. EITC is an unfunded federal mandate requiring GovGuam to pay without contribution from the taxpayer. The relationship of EITC paid compared to the tax refunds paid continues to increase from Tax Year 2000 of 11 percent to Tax Year 2016 of 43 percent, according to the Fiscal Year 2017 Audit.