While at least 50 percent of the estimated 12,000 taxpayers could receive their 2010 tax refund and rebate checks by Dec. 31 in time for the holidays, thousand of others may not get their checks at least until early next year because of the government\u2019s continuing cash shortage.<\/p>\n
The Fitial administration initially expected that all checks would be released before the end of the year, after starting to mail out checks in mid-October. The first batch amounted to some $1 million for an estimated 1,000 checks. There have been other releases since then in small amounts.<\/p>\n
Lt. Gov. Eloy S. Inos said yesterday that while there is money pumped into the rebate trust account, the amount is simply not enough to pay for all 2010 rebates and refunds.<\/p>\n
\u201cWe\u2019re still issuing weekly or biweekly, but I know our initial target was for the end of December. I don\u2019t know if we will be able to complete everything but were trying our best. Again it\u2019s basically a function of available funds,\u201d Inos said in an interview at the ribbon-cutting for a new water well and waterline connection project on Mount Tapochao yesterday afternoon.<\/p>\n
Inos, who oversees government finances, said the government may be able to issue \u201cat least 50 percent\u201d of the checks by Dec. 31. There\u2019s an estimated 12,000 taxpayers covered by 2010 refunds and rebates amounting to $7 million to $8 million.<\/p>\n
He said other checks could be released in early 2012.<\/p>\n
The government, however, takes into consideration taxpayers requesting release of their checks to cover medical emergency, death in the family, and other reasons. <\/p>\n
\u201cOtherwise, we go on the basis of filing dates,\u201d he said.<\/p>\n
Ferdie Santos, a resident of Fina Sisu, said he\u2019s been checking the mailbox for his refund\/rebate check since middle of October, which he plans to use for paying some past due accounts.<\/p>\n
\u201cThat\u2019s because I just had a family emergency, and the money I set aside for other obligations such as house rental went to that emergency. So it would really be a big help if my rebate or refund check comes out soon,\u201d said Santos.<\/p>\n
A 51-year-old China Town resident said he\u2019s disappointed to learn that many taxpayers may not be able to receive their checks by December. He said he has been planning to use that money to buy Christmas gifts for his family.<\/p>\n
The father of three said he expects some $700 in rebate\/refund, which could go a long way toward making the holidays a bit merrier than usual.<\/p>\n
\u201cI just wonder why the rebate trust account is empty or not enough to pay for the rebate. Where did they use the money that\u2019s supposed to be there? If we taxpayers miss the deadline for filing, we get penalized. But if the government is delayed in releasing rebate or refund checks, we don\u2019t get interest,\u201d he said.<\/p>\n
Inos asked for taxpayers\u2019 patience during these tough financial times.<\/p>\n
To help remedy the cash shortage, Inos said they are trying to make partial payments for child tax credit, rebate, refund, and federal stimulus checks \u201chopefully so that everyone will get something rather than wait until we have enough funds for everything.\u201d<\/p>\n
A refund is for tax that has been overpaid or incorrectly paid, and is returned to the taxpayer, while rebate is for tax properly paid and is subsequently returned to the taxpayer under a rebate provision. <\/p>\n","protected":false},"excerpt":{"rendered":"
While at least 50 percent of the estimated 12,000 taxpayers could receive their 2010 tax refund and rebate checks by Dec. 31 in time for the holidays, thousand of others may not get their checks at least until early next year because of the government\u2019s continuing cash shortage.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-157003","post","type-post","status-publish","format-standard","hentry","category-local-news"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/157003","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=157003"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/157003\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=157003"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=157003"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=157003"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}