Rev & Tax preps for future refunds

by Ken Quintanilla

Guam - After issuing practically all tax refunds from 2010 and prior earlier this month, the Department of Revenue & Taxation is moving forward to ensure that future tax refunds are distributed in a timelier manner. As they await for the Series 'B' bonds which would pay for 2011 tax refunds, Rev & Tax director John Camacho says they are preparing themselves to get future refunds at the a-level status so once the money is in place, the agency will be ready.

"We want to be very active and making plans to start processing 2011 come January which means that our software has to be ready by the end of the month, and this will blend in with the second series that we're looking at," he said.

He adds DRT is trying to complete the distribution on tax refunds for corporations and several individual tax refunds many of which were error returns.