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‘Stimulus checks’ out soon
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Posted on May 07 2020
The U.S. Treasury will now transfer $37.6 million to the CNMI government within the next few days so it could release stimulus checks to eligible CNMI taxpayers as soon as possible.
This will provide up to $1,200 for each eligible individual and $2,400 for joint returns, as well as $500 for each qualifying child. Stimulus checks will be issued by direct deposit or check and mailed to the address indicated on the return, or last known address. The Department of Finance has also opened a stimulus check web portal where eligible residents can provide banking information.
This comes soon after the U.S. Department of the Treasury notified Finance Secretary David DLG Atalig on May 4, 2020, that the Internal Revenue Service has approved the CNMI’s Economic Impact Payment (“or stimulus checks”) Implementation Plan.
“We will be getting these checks out to our people as soon as possible,” said Gov. Ralph DLG Torres. “In addition to protecting everyone’s health, our priority is to get everyone the assistance they need, and we now have the funds to get this done.”
All eligible CNMI residents—including SSA/RRB/VA/SSI beneficiaries and taxpayers with no filing requirement—must have filed either a 2018 or 2019 tax return with the CNMI Division of Revenue & Taxation to receive their stimulus check.
“To benefit immediately from this stimulus, you must file an income tax return for 2018 or 2019. We encourage all residents to file a tax return; especially, pensioners and other individuals that typically do not have a filing requirement (income amounts equal to or less than the standard deduction amount allowed). Taxpayers who have not yet filed their 2019 returns, will be substituted with their 2018 return information,” said Atalig.
To assist taxpayers in social distancing efforts, the Division of Revenue & Taxation is providing a tax return drop-box at the entrance of the office for easy and fast submission of tax forms. DRT will process returns as quickly as possible to ensure all eligible taxpayers receive their EIP in a timely manner.
Taxpayers are encouraged to visit the Department of Finance website at www.dof.gov.mp/forms to access digital versions of the required tax forms. If you have any questions or concerns, you may send an email to info@dof.gov.mp and a response will be sent as soon as possible. (PR)
