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Stimulus checks for Virgin Islanders who files taxes are on the way soon, Bureau of Internal Revenue Director Joel Lee said in a Tuesday news release.
When asked to estimate the impact of the novel coronavirus on the V.I. government’s revenues, Bureau of Internal Revenue Director Joel Lee said they could not give a firm projection “because this has never happened before.”
At this year's revenue estimating conference, Internal Revenue Bureau Director Joel Lee projected a 10 percent bump in V.I. tax revenues for fiscal year 2020, but Gov. Albert Bryan Jr. is warning against using up the hoped-for increase wastefully.
Internal Revenue Bureau Director Joel Lee told lawmakers Tuesday that if the District Court rules against the government’s appeal to reinstate excise taxes, the bureau has no backup plan in the face of roughly $45 million in tax collection losses each year.