LOL, I know I know taxes refunds in the VI is normally the dont hold your breathe type of answer. But just wondering if anyone has heard anything about when tax refund checks were going to be dispersed. Last year i know i got mine may 14th, but we are moving back stateside on may 18th and just holding hope that we will get it before leaving. anyone heard anything yet?
One thing I stopped years ago and that was to make sure I owed "the government" money. This was true in the states as well as when I moved here. So I never worry about a refund as to when I'll get it. I don't mind writing a check to pay what we owe for federal income taxes.
In yesterday's Virgin Island Daily News there is an article regarding the VIRB working overtime to send out income tax refund checks to people that filed their returns by 4/18/11. In this same article are comments by Celistino White (STT senator), to withhold income tax refunds to the public (aka government) employees. Hey maybe it's just me, but the USVI has way too many gov't workers anyway.
What was mind boggling to me in this article, was a statement that the VI gov't budgeted $88 million for 2010 tax refunds. Given the popluation of VI vs amount of refunds budgeted, seems out of whack or we have lots of people who love giving their money to the gov't for free..
Here's the link http://virginislandsdailynews.com/.
What was mind boggling to me in this article, was a statement that the VI gov't budgeted $88 million for 2010 tax refunds. Given the popluation of VI vs amount of refunds budgeted, seems out of whack or we have lots of people who love giving their money to the gov't for free.
That's an average refund of $800 per resident in the USVI, assuming 110,000 residents.
By comparison, according to http://money.cnn.com/2011/01/14/pf/taxes/tax_refund/index.htm "the Internal Revenue Service doled out refunds totaling $328 billion ... to taxpayers who filed their 2009 tax returns." Assuming that is spread out over 300 million residents, that's an average of $1093 per resident in the US.
So USVI taxpayers appear to be better than the US at not over-estimating their tax payments. But if you factor in the USVI's lower median household income, it's closer to even.