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Tax checks

 

jay
 jay
(@jay)
Advanced Member
Joined: 16 years ago
Posts: 353
September 26, 2011 2:50 pm  

The IRB said earlier that the refund checks would be sent out in September for 2010 tax returns. Does anyone know if that occurred?


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Bombi
(@Bombi)
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Joined: 16 years ago
Posts: 2104
September 26, 2011 4:09 pm  

My son got his in August, I haven't received mine yet.


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STXBob
(@STXBob)
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Joined: 16 years ago
Posts: 2138
September 26, 2011 6:09 pm  

I filed on 3/1/11 and they sent my refund check around 8/17/11.

Here's another thread about it:
Subject "Interest on tax refunds" https://www.vimovingcenter.com/talk/read.php?4,160259


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Tippi
(@Tippi)
Trusted Member
Joined: 15 years ago
Posts: 523
September 26, 2011 6:32 pm  

I'm still waiting on my refund for 2010!


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CAtoSTX
(@CAtoSTX)
Trusted Member
Joined: 13 years ago
Posts: 591
September 27, 2011 2:32 am  

We filed in March and got ours a couple of weeks ago.


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stjohnjulie
(@stjohnjulie)
Trusted Member
Joined: 14 years ago
Posts: 1008
September 27, 2011 9:14 am  

Still waiting. But I did get chosen for a "Child Tax Credit Audit". Lucky me. I had to send 1. Birth Certificate 2. Social Security Card 3. Report Card/Immunization Card for both of my kiddos. I thought that was kind of over kill to have to send everything, both of them were born in the VI, anywho... wonder how long that will hold up the refund?


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piaa
 piaa
(@piaa)
Trusted Member
Joined: 18 years ago
Posts: 582
September 27, 2011 5:39 pm  

We called on ours and they said another 4-6 weeks !!!

Pia


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soublondie
(@soublondie)
Advanced Member
Joined: 13 years ago
Posts: 27
September 27, 2011 9:14 pm  

Pia - what number do you call to check? Thanks!


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STXBob
(@STXBob)
Trusted Member
Joined: 16 years ago
Posts: 2138
October 2, 2011 12:25 pm  

http://virginislandsdailynews.com/news/with-deadline-now-past-v-i-still-owes-tax-refunds-1.1211911

With deadline now past, V.I. still owes tax refunds

By ALDETH LEWIN (Daily News Staff)
Published: October 1, 2011

ST. THOMAS - The fiscal year ended Friday, but many taxpayers still are waiting for their refund checks.

In August, V.I. Finance Commissioner Angel Dawson Jr. said the government would try to send out all the 2010 income tax refunds filed by April 15 by the end of September - if the funds were available.

Friday, V.I. Internal Revenue Bureau Director Claudette Watson-Anderson said only about $75 million of the $80.8 million originally earmarked for refund payments was available to pay refunds in Fiscal Year 2011.

"Anyone still owed will be paid in Fiscal Year 2012," she said. "After today, we start another $80 million clock."

That means the amount set aside in FY 2012 to pay 2011 tax refunds will be spent to pay 2010 refunds.

Dawson did not respond to calls Friday, and Watson-Anderson did not have the total number of refunds that have been paid so far.

As of Aug. 9, the V.I. Finance Department had mailed out 14,605 refunds, totaling about $49.8 million, and Dawson said he was scheduled to sent out another $8 million later that week.

Taxpayers who do not receive their refund within 45 days of filing accrue a 4 percent annual interest on their refund. To calculate the interest payments, the Internal Revenue Bureau takes the refund amount and calculates 4 percent of that total. The 4 percent interest then is divided by 365 days. Each day after June 1 that the check is late, that portion of the interest is added to the refund.

The Internal Revenue Bureau sends schedules, or batches, of refunds to the Finance Department in groups of 500. Finance determines what money is available and issues the checks.

Refunds are dependent on the government's cash flow, and as the money is available, the checks are issued, Dawson has said.


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