THE disbursement of the third round of stimulus checks will begin Monday, April 12, according to the administration.
It said the first batch of paper checks had been printed and will be ready for mailing Monday, April 12. The first batch of direct deposits will also go out Monday, April 12.
“Bank of Guam customers are expected to see direct deposits in their accounts [Monday] followed by all other banks within 48 hours,” the administration stated.
Gov. Ralph DLG Torres on Saturday announced that the U.S. Department of the Treasury finally approved $85 million for the CNMI’s Third Economic Impact Payment implementation plan.
The CNMI Department of Finance has received the initial funding and is prepared for its disbursement.
Secretary of Finance David DLG Atalig on Friday said the federal government had decided to do a blanket disbursement of the third round of stimulus payments for all U.S. territories, so although the CNMI had submitted its implementation plan, it had to wait for all U.S. territories to submit theirs as well, thus causing a delay.
The governor said he and Lt. Gov. Arnold I. Palacios are thankful that the U.S. Treasury has approved the CNMI’s EIP3, or third stimulus, implementation plan.
“Our Department of Finance has just been notified by the [Internal Revenue Service] that the initial funding has been received, and because we have already prepared our systems, we will be pushing out the first batch of paper checks and direct deposits on Monday,” the governor said.
“We appreciate the community’s patience as we continue to expeditiously process this latest round of stimulus payments. Relief is on the way, and we are more than ready to push it out immediately.”
As of Saturday, approximately 30% of filers had registered for direct deposits.
The Division of Revenue and Taxation encourages taxpayers to continue registering for direct deposit on the CNMI Stimulus Portal to ensure payments are received as quickly as possible.
The division will process the first batch of stimulus payments based on 2019 income tax returns.
Additional batches will then be issued based on 2020 income tax returns that are submitted and processed by Aug. 15, 2021, 90 days after the filing deadline of May 17, 2021.
If a taxpayer does not receive his or her maximum third round payment in 2021, he or she may be eligible to claim the 2021 Recovery Rebate Credit when he or she files his or her 2021 income tax return in 2022.
For more general information on eligibility and calculation of the third stimulus payment, visit https://www.irs.gov/coronavirus/economic-impact-payments
Rumor control
In a statement on Sunday, the administration said they were aware of a video of checks being printed.
“This is an old video taken several years ago by an employee that no longer works for Finance,” the administration added.
“The community is advised to stop circulating this old video as it is illegal to share personal financial information. This video does not reflect the humble and hard work currently being done by Division of Revenue and Taxation employees to get stimulus checks out expeditiously.
“Finance does not allow its employees to record or take pictures of any activity involving sensitive financial information. This policy has been strictly enforced under the Torres-Palacios administration to protect CNMI taxpayers, their families, and our community from theft and fraud.”
