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Batch 1 of tax refunds out Friday
The first batch of refunds for the tax year 2022 will be disbursed beginning this Friday, according to an announcement yesterday from the Office of the Governor.
The news release quotes Finance Secretary Tracy B. Norita as saying that the disbursement includes the Earned Income Tax Credits and 2022 individual income tax refunds consisting of returns without any business-related information. The Child Tax Credit will be processed as soon as funding is received.
The first batch is composed of 7,872 taxpayers. These include 3,682 for EITC totaling $5.3 million and 4,190 for regular rebates totaling $3 million. The first batch numbers will likely increase as the Finance staff processes additional refunds throughout the week.
“The staff at the Department of Finance have been working diligently to process the refunds to help ensure that funds are promptly distributed to our taxpayers,” said Gov. Arnold I. Palacios. “We commend the Finance team and ask them to continue their work toward making certain that all tax refunds and tax credits are processed in a timely and efficient manner.”
Taxpayers opting for physical checks are asked to allow three to five working days for the U.S. Postal Service to sort and distribute mail. Taxpayers are also reminded that if direct deposit bank information has errors, the refund will be converted to a check.
The Department of Finance stressed that the first batch described is for returns without errors.
The CNMI Department of Finance’s Division of Revenue and Taxation will continue to process tax refunds on a biweekly basis to allow the week in between to process government payroll and other payables.
For questions, contact the division’s call center at (670) 664-1040. (PR)
