OVER 3,000 payments of the second round of advanced or increased child tax credit have been issued, Department of Finance-Division of Revenue and Taxation Director Tracy Norita said.
Those who have visited the Department of Finance portal and have not yet received a payment are encouraged to check their bank accounts or their mailboxes.
“The portal is still open for submission of dependent information,” she said.
In the first round, roughly $882,000 in payments of the advanced or increased tax credit were distributed through direct deposits and checks.
The CNMI is authorized to make monthly payments of the child tax credit through December this year.
Eligible families will receive $250 or $300, depending on the age of the child.
Norita said a lot of people were expecting the whole $3,000 up front.
“Because the payments began in August, what we do is base your payment on the remaining months. So, if your first payment is in October, you take your total benefit, which is 50% of the credit,” she said.
“But again, it’s 50% of the credit divided by the remaining eligible months. So, whatever is 50% of your credit, if your first payment is in October, the [balance] will be divided among the remaining months: October, November, December.”
Norita said taxpayers get the remaining benefit amount, the other 50%, when they file their tax return next year.
Moreover, she said, if taxpayers had gone on the portal and submitted information, but still did not receive a payment, most likely there is an issue with their submissions.
She said thus far, she has seen several times where a taxpayer would go on the portal, submit their date of birth, but under the wrong Social Security number.
“As we’ve always mentioned in the past, please be careful when you’re submitting information. Make sure it’s as accurate as possible. Because we do have to validate that information prior to issuing the payment,” she said.
She added that they conduct global matching and validation for a batch of payment every other Friday.
