SECRETARY of Finance David DLG Atalig said his department will not be processing any additional stimulus batches until after the May 17 extended tax filing deadline has passed.

The Division of Revenue and Taxation processed initial stimulus payments based on 2019 tax returns.

Additional payments will be issued based on 2020 income tax returns that are submitted and processed by Aug. 15, 2021, or 90 days after the filing deadline.

CNMI taxpayers who did not receive his or her maximum third round stimulus payment this year may be eligible to claim the 2021 Recovery Rebate Credit when he or she files his or her 2021 income tax return in 2022.

Secretary Atalig said CNMI taxpayers should ensure that they fill out tax forms and provide all required supplement forms to identify whether or not they have received their first, second, or even third stimulus payment.

“We will make sure funding is available, so those who have not received it and are qualified to do so will get their stimulus,” he said.

In addition, tax returns will probably be out the third week of June, Atalig said.

For more general information on eligibility and calculation of your third stimulus payment, visit https://www.irs.gov/coronavirus/economic-impact-payments

All taxpayers who have yet to register and submit bank information are encouraged to use the Stimulus Portal on the Department of Finance website at www.dof.gov.mp and select “Register for ACH.”

Taxpayers who have successfully received a direct deposit in the second stimulus payment do not have to re-register.

Revenue and Taxation will use all valid bank information received from the second stimulus payment for the third round of payments, including off-island banks.

All invalid bank information, such as closed accounts, incorrect account or routing numbers have been removed from the database.

Taxpayers who provided invalid bank information are encouraged to register again on the portal.

The Stimulus Portal is now limited to local banks only for new registrations.

Reporter

K-Andrea is a Gates Millennium Scholar who earned her bachelor of arts degree in political science from St. Francis College in Brooklyn, NY. Since joining the MV team in Feb. 2020, she has been covering the political, environmental, and community beats.

comments powered by Disqus