Acting Gov. Eloy S. Inos said although the target date for the release of rebates is in December, “it could probably be sooner,” he added.
There is not enough in the trust account for rebate right now, but he assured that the administration will release up to $6 million in child tax credit checks in September.
In a separate interview, acting Press Secretary Teresa Kim Tenorio said the processing of annual tax returns must go through a “global computerized processing system.” This, she said, is where tax return information of all filers are compared, checked and reconciled.
Tenorio admitted that this is a detailed and time-consuming process. But she said it was designed “to produce the maximum degree of accuracy and completeness of all tax information pertaining to the taxpayer.”
At this time, she said the Division of Revenue and Taxation is still in the tax return processing phase. Once it is done, she said, “we will be able to issue refunds and rebates.”
Tenorio said the administration expects to release the child tax and stimulus funds sooner as these are federally funded.
Rev and Tax will then release the refunds followed by the rebates, she added.
“The targeted date for completion of releases is December but it could be sooner,” she said.
