Senators Approve Bill to Update IRS Tax Table for Am Samoa

The Senate is moving swiftly to approve bills recommended by the ASG Revenue Task Force.

Senators voted unanimously yesterday to approve the administration bill which would update the IRS tax tables for American Samoa.

The tax table currently in use is the 2000 IRS table, but the administration bill would change that beginning next year.

If the bills Is approved by both Houses the territory would use the 2004 tax table next year , and then the 2008 one in 2012 and this would continue until 2022 when local wage earners will be using the same tax tables as the US.

ASG officials have testified that the bill means that returns for wage earners will increase.

During review of the bill last week, Senators asked if changing the tax tables would mean that tax refund checks will be issued faster.

Treasurer Ueligitone Tonumaipea didn’t say yes or no but indicated that there would be an improvement.

Tags: , , , , , , , , , , , , ,