by Mindy Aguon, KUAM NewsWednesday, May 21, 2008 Subscribe to Mindy's newsfeed
The Department of Revenue & Taxation continues to process tax rebates that are part of the president's Economic Stimulus Package. Director Art Ilagan says to date the agency has sent out 4,828 checks, totaling more than $4 million in rebates. The department is currently processing between 600 and 700 checks a week, but Ilagan says they need to process at least 2,000 rebates a week in order to mail out all the stimulus checks by December 31. Whatever checks are not cut by the end of the year will be turned into tax credits.Meanwhile, despite criticism from senators like Ben Pangelinan, Rev & Tax is still proceeding with its garnishment program. Ilagan maintains the department is justified in taking out money that residents owe to the Government of Guam. The director added, "The offset provision on the 2008 stimulus check was not negotiated with the Department of Treasury, nor the Internal Revenue Service, however, it is required because Guam mirrors the Internal Revenue Code."