THE Department of Finance on Friday announced that the first batch of $3.4 million in regular tax refunds to 4,600 taxpayers were to be distributed this past weekend.
Over $80,000 of these funds were direct deposits.
Secretary of Finance David DLG Atalig said filers who filed on time and are clear of any errors comprised the first batch of tax refund recipients.
He thanked the personnel of the department’s Division of Revenue and Taxation, CNMI Treasury, and the Division of Information Technology for their hard work in ensuring that funds are processed accurately and as quickly as possible.
“We are excited for the release of these funds so that families can improve their current financial situation and increase spending in our economy,” he said.
In a statement, Gov. Ralph DLG Torres said his administration remains committed to releasing tax refunds, rebates, and child tax credits as soon as they become available.
He said he and Lt. Gov. Arnold I. Palacios want the CNMI’s hardworking taxpayers to know that the administration is taking every measure possible to get these funds into their hands, beginning with this first batch of regular tax refunds.
“These funds will help families with children increase their ability to meet their most immediate needs, while also supporting our local businesses,” the governor said.
He thanked members of the community for their patience, and expressed his sincere appreciation to the staff of the Department of Finance for their hard work.
The Division of Revenue and Taxation will be processing the Recovery Rebate Credit — also known as RRC or the stimulus — in a separate payment from the regular refunds.
It is anticipated that nearly $400,000 in RRC or stimulus payments will go out this week to over 300 taxpayers.
DRT will also begin issuing about $2.4 million in Advance Child Tax Credit refunds simultaneously with the RRC or stimulus payments.
For CNMI taxpayers who opted for a mailed refund check, they are asked to allow two weeks’ time for the U.S. Postal Service to sort and distribute mail.