V.I. Government Issues Additional $16.1 Million in Income Tax Refunds

The Finance Department issued $16.1 million in income tax refunds with disbursements of $9.5 million on Dec. 12, and another $6.6 million on Thursday, according to Government House.

This comes after a similar disbursement in November when the administration distributed 6,981 income tax refunds totaling $18.8 million. This is money owed to taxpayers after over-collection of taxes due to excessive paycheck withholding or other reasons.

According to Government House, the administration of Gov. Albert Bryan Jr. and Lt. Gov. Tregenza Roach has issued $34.8 million in income tax refunds and a total of $63.8 million since taking office in January. Those refunds comprise 13,307 processed tax returns since Oct. 1 and 26,127 processed returns since January.

“These returns signify my administration’s commitment to stabilizing the government and restoring the public’s trust in it,” Bryan said in a statement. “As the territory’s economy continues its recovery and the government’s revenue continues to grow, going forward the Government of the Virgin Islands plans to be current on processing income tax refunds and issue refund checks in a timely manner to avoid falling into arrears as has been the case in past administrations,” he said.

According to Government House, some income tax filers may not have received refunds because of a wrong address or Social Security number or because of an audit. Filers who want to check that their information is correct can call the Internal Revenue Bureau at 340-715-1040 on St. Thomas or 340-773-1040 on St. Croix.

This is the latest in a series of separate authorizations for tax refunds. For years, through at least three administrations, the V.I. government has periodically delayed tax refunds due to cash flow difficulties.

Administration Pays Out $5 Million More in Income Tax Refunds
Administration Pays Out $4 Million in Income Tax Refunds
V.I. Government Releases $12 Million for 6,000 Tax Refunds
Bureau of Internal Revenue Releases $4.8 Million in Tax Refunds
BIR: Income Tax Refunds Continue to Be Processed
V.I. Answer Desk: 2012 Tax Refunds

Print Friendly, PDF & Email

Support the VI Source

Unlike many news organizations, we haven't put up a paywall - we want to keep our journalism as open as we can. Our sites are more popular than ever, but advertising revenues are falling - so you can see why we could use your help. Our independent journalism costs time, money and hard work to keep you informed, but we do it because we believe that it matters. If everybody who appreciates our reporting efforts were to help fund it for as little as $1, our future would be much more secure. Thanks in advance for your support!