$2M in tax refunds paid out today - KUAM.com-KUAM News: On Air. Online. On Demand.

$2M in tax refunds paid out today

Posted: Updated:

by Mindy Aguon

Guam - The Calvo Administration and the Department of Revenue & Taxation are ending the year on a positive note, pushing out another $2 million in tax refunds today. 

For the first time in as long as most can remember, Rev & Tax is actually caught up on tax refunds.  In fact those who filed error free returns this month can expect to get their check in the mail. Rev & Tax director John Camacho said, "All error free returns are being paid today - we're mailing out the last batch for the year which is about $2 million, which represents about 784 taxpayers."

That means all residents who filed their taxes up to December 24 and had an error free return has been processed and paid. "This is history in the making for our department our good working employees and the department have been processing all these returns throughout the years and I want to congratulate them," he said.

The Governor's Office notes that when the Calvo Administration came into office, there was a deficit of more than $300 million.  Today there is a much different financial situation as there is a tax refund reserve to ensure refunds are paid out quicker.  Adelup noted that this was made possible with strong fiscal discipline and the sacrifices of Government of Guam employees.

Although staffers are caught up with 2012 returns, Rev & Tax is already gearing up for the new tax season. Camacho added, "People are going to be anxiously filing January 1. I know a lot of them are expecting their refunds early as what we did this year, first come first basis so lots of people going to be filing early. The earlier the better for them. We will go first in/first out."

Camacho says with the assistance of a vendor, the agency will begin processing 2013 tax returns in the first or second week of January. "This year we were averaging $2.5 million in claims a day for the month of February that's a lot of returns that are being filed. Generally we pay out 44,000-45,000 taxpayers on a yearly basis," he said.

Camacho says those who have returns with errors, should have received a letter notifying them of the issues with their returns.

  • NEWS HEADLINESMore>>

  • Find awesome deals on the Shop Guam app

    Find awesome deals on the Shop Guam app

    It's the biggest shopping event in the Western Pacific, and it's back just in time for your holiday shopping needs. Take advantage of the over 300 offers and discounts during the Guam Visitors Bureau 6th Annual Shop Guam e-Festival. The campaign kicked off earlier this month and runs through February 2018. Download the Shop Guam mobile app, available on both iOS and Android Devices, for more information.More >>
    It's the biggest shopping event in the Western Pacific, and it's back just in time for your holiday shopping needs. Take advantage of the over 300 offers and discounts during the Guam Visitors Bureau 6th Annual Shop Guam e-Festival. The campaign kicked off earlier this month and runs through February 2018. Download the Shop Guam mobile app, available on both iOS and Android Devices, for more information.More >>
  • GFD back up to 8 operable ambulances

    GFD back up to 8 operable ambulances

    They respond to thousands of calls a year. With that being said, mechanical failures will happen from time to time, but the Guam Fire Department is back up to 8 ambulances serving the island daily. According to Fire Chief Joey San Nicolas, currently there are 2 that are serving as back up and 3 that are still undergoing repairs. "There's a rare occurrence that multiple units go down at the same time mostly for the same reasons- which is really air con units in the patient compar...More >>
    They respond to thousands of calls a year. With that being said, mechanical failures will happen from time to time, but the Guam Fire Department is back up to 8 ambulances serving the island daily. According to Fire Chief Joey San Nicolas, currently there are 2 that are serving as back up and 3 that are still undergoing repairs. "There's a rare occurrence that multiple units go down at the same time mostly for the same reasons- which is really air con units in the patient compar...More >>
  • Government wants full payment from Ray Charles Tedtaotao Camacho

    Government wants full payment from Ray Charles Tedtaotao Camacho

    It's a $750 wedding ring, but its significance and meaning, priceless. While Ray Charles Tedtaotao Camacho is serving life behind bars, the government argues he's not being held fully accountable for his crimes. Five years ago, Camacho kidnapped and raped Monique Baza after she made a quick run to the bakery for bread. Though it's a minimal amount for the ring that was never recovered, defense has motioned to waive restitution.  The government, in its response this week, argued ...More >>
    It's a $750 wedding ring, but its significance and meaning, priceless. While Ray Charles Tedtaotao Camacho is serving life behind bars, the government argues he's not being held fully accountable for his crimes. Five years ago, Camacho kidnapped and raped Monique Baza after she made a quick run to the bakery for bread. Though it's a minimal amount for the ring that was never recovered, defense has motioned to waive restitution.  The government, in its response this week, argued ...More >>
Powered by Frankly