The Tax Office is already busy with the processing of tax returns filed for tax year 2009 which began on Jan. 19 with ASG already releasing W-2 tax forms for its workforce, along with the now closed COS Samoa Packing cannery.

“We have already accepted filing of tax returns and so far about 1,000 returns have been filed and are now being processed,” Tax Office manager Melvin Joseph told Samoa News yesterday. “We have been busy and we ask the public’s patience as we work diligently to serve the public.”

The 2009 Tax Forms have already been printed and are ready for the public. The Tax Office computer systems have also been updated and tested by an off-island contractor and are prepared for the filing season. The filing service began Jan. 19 at the Tax office and this service is available for the following tax forms:

•    Annual income of $35,000 or less.

•    Limited to Schedules A & B.

•    No Schedule C (Profit or loss of Business)

Joseph said the W-2 forms for ASG workers were released last week and he is aware that Samoa Packing’s forms were released as well. He reminds employers that they have until the end of this month to release to employees their W-2 forms.

When the refund checks are issued this year, three refunds will be merged into one check.

This will consist of refunds—

•    from the local tax,

•    the Additional Child Tax Credit, and

•    the Making Work Pay Credit (MWPC).

The ACTC and MWPC are paid by the U.S. government if you qualify to receive such refunds.

MWPC INFORMATION

Last summer, local tax payers who qualified, received 65% of the tax credit and most of them— who qualified for the maximum amount, received 65% of the $800 for married couples and 65% of $400 for single taxpayers. 

If you have not received the MWPC and you want to claim the MWPC, you need to file your 2009 tax return in order to receive this credit, said Joseph.

For those who have already received 65% of the MWPC last year and want to claim the remaining 35%, they will also have to file their 2009 tax return in order to receive the credit, according to the Tax Office.

The amount of the credit that you receive is based on the amount of your annual income. For instance, in order for you to receive the full amount of the credit, for married taxpayers, your income earned has to be equal to or greater than $12,900 to receive a credit of $800. 

As for single taxpayers your income earned would have to be equal to or greater than $6,450 to receive a credit of $400. If your income falls short of the respective amounts then you would calculate your credit as follows:  Earned income multiplied by 6.2%. 

Also, married taxpayers that have an earned income greater than $150,000 and single taxpayers with an earned income of $75,000, your credit would be calculated as follows:

Excess of $150,000 or $75,000 whichever your case multiplied by 2% less the credit of $800 or $400. To Qualify:

•    You must file a 2009 Tax Return.

•    Have a valid Social Security Number issued by the Social Security Administration.

•    Be a resident of American Samoa.