Department of Revenue and Taxation

Guam, Pacific Islands: (Mar-19-07) In a settlement agreement reached by the Department of Revenue and Taxation on the issue of refunding Guam's working poor who filed for a tax credit in 1997 and 1998, the government agreed to pay $90 million. In an effort to make up for the government's failure to pay the Earned Income Tax Credit (EITC), the government is obligated to have completed the processing of the EITC accounts. It has agreed to immediately pay out $10 million, which will primarily go toward recipients from 1998, who already had filed for the tax credit at the time of the settlement. It will first issue checks to year 1997 recipients to cover the $295,000 left outstanding from that year, then it will pay about 67% to each recipient from 1998. [PACIFIC DAILY NEWS: EITC SETTLEMENT]

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Published on Mar-21-07