Tracy Norita
THE Department of Finance’s Division of Revenue and Taxation is expected to release approximately $10 million in earned income tax credits, $4.4 million in child tax credits and $2.4 million in tax refunds by mid-May, Finance Secretary Tracy B. Norita said.
In an interview on Monday, Norita said Finance is processing approximately 12,000 tax returns, and is anticipating the release of EITC, child tax and tax refund payments in the next couple of weeks.
Norita said she wants to commend the Division of Revenue and Taxation and the CNMI Treasury “for their diligence and hard work to issue these refunds by mid-May.”
“We thank the community for their patience as we work through the tax season,” she added.
Funded by the American Rescue Plan Act, the EITC payments are authorized by Public Law 22-3, which aim to provide relief to qualified working families and taxpayers. In the past, the CNMI government implemented a local EITC program under Public Law 11-25, but it was discontinued in 1998 due to lack of local funds.
