|
|
|
June 12, 2008
BIR DIRECTOR: $11 MILLION IN ECONOMIC STIMULUS PAYMENTS AND MORE THAN $71.5 MILLION IN INCOME TAX REFUNDS ISSUED TO DATE The Virgin Islands government is continuing to process and disburse both Economic Stimulus Rebate and tax year 2007 income tax refund checks on a regular basis. Bureau of Internal Revenue Director Gizette Canegata-Thomas reported Thursday that, as of June 11, more than 14,500 rebate checks totaling $11.7 million have been issued for payment. "The Bureau authorized the Finance Department to make payments of $2.4 million in economic stimulus rebate checks on May 13; $4.6 million on May 19 and about $4.6 million on June 2." Thomas pointed out however, that 2,611 Virgin Islands taxpayers have been deemed not eligible for the rebate primarily because their income was either too high or too low; the taxpayer, when filing their 2007 income tax return offered a non-qualifying Social Security number; the taxpayer was claimed as a dependent by another taxpayer. The Bureau of Internal Revenue is offsetting the economic stimulus rebate checks to both outstanding tax obligations to the Bureau as well as outstanding child support payments. "I encourage any taxpayer who has questions about the economic stimulus program or who are seeking to obtain verification as to the amount of the rebate should contact the Bureau at either 715-1040 on St. Thomas or 773-1040 on St. Croix." Thomas said the Bureau’s website offers taxpayers the ability to estimate the amount of their rebate check by utilizing the online calculator. "The payment authorization of both Economic Stimulus Rebate and Income Tax Refund checks is part of the continuing efforts to re-circulate money in the economy of the Virgin Islands," said Governor John P. deJongh, Jr said Thursday. DeJongh said the efforts will continue by both the BIR and Department of Finance to complete the process of issuing both income tax refunds and economic stimulus rebate checks to Virgin Islands taxpayers. The BIR director also said Thursday that income tax refunds are being processed regularly. "For prior tax years, we have issued more than $14 million in refunds and for the current tax year, more than $57.4 million has been authorized for payment. Thomas estimated that more than 29,600 checks totaling in excess of $71.5 million have been issued to date. |
