Tax filers need to start planning ahead - KUAM.com-KUAM News: On Air. Online. On Demand.

Tax filers need to start planning ahead

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by Janjeera Hail

Guam - Tax Day is April 15. Department of Revenue & Taxation's supervisor for the Income Tax Branch Lawrence Terlaje says now is a good time to start planning ahead.  He says taxpayers should visit the agency now for tips on how to fill out your income tax forms properly.

He pointed out that residents may have a chance at increased refunds this time around if they claim a making work pay credit, telling KUAM News, "The criteria for becoming eligible for that would be simply working, but it gets phased out for those with a very high adjusted gross income. We are seeing a lot of folks coming in and filing tax returns and refusing to claim that credit when they are eligible for it."

Terlaje says the stimulus funding plan from last February resulted in the reduction of withholdings throughout the year, thus with tax dollars going down, Terlaje says if you don't claim the credit owed, then you will likely being pay more throughout the year.

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