The following is a news release from the Guam Department of Revenue and Taxation:
FOR IMMEDIATE RELEASE – May 6, 2022
$9.5 Million in Tax Refunds Paid
30,000 Early Filers for Tax Year 2021 Paid To Date
Hagåtña, Guam – On May 5, 2022, the Department of Revenue & Taxation processed and the
Department of Administration mailed checks, or paid by direct deposit, approximately 3,179 Tax
Year 2021 and prior income tax refunds totaling $9,551,171 for error-free returns filed on, or
before, March 17, 2022.
Tax refund payments this fiscal year total $119.4 million, of which approximately $94 million (or
79%) were paid to early filers who filed on, or before, March 17, 2022. Since paying the first
batch of TY 2021 refunds on February 24, 2022, over 90% of weekly payments have been for
Tax Year 2021 filers. Efforts continue to pay refunds weekly and within a 6-8 week turnaround
time.
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The increased ability for the government of Guam to pay tax refunds faster is linked directly to the influx of federal funds, and the reimbursement of tens of millions of dollars in Earned Income Credit payments from the U.S. Treasury secured by Congressman Michael San Nicolas.
