Saipan-- The CNMI will begin distributing the third round of stimulus checks on Monday, Gov. Ralph DLG. Torres announced following the U.S. Treasury's approval of the commonwealth's implementation plan for the Third Economic Impact Payment of EIP3.
The Internal Revenue Service on Saturday approved $85 million for the CNMI. Initial funding has been advanced to the Department of Finance, the governor said.
“Lt. Governor Palacios and I are thankful that the U.S. Treasury has approved our plan early this morning. Our Department of Finance has just been notified by the IRS 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,” Torres 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 beginning Monday.”
Finance Secretary David DLG. Atalig said the finance team, led by the Division of Revenue and Taxation, will be working through the weekend to ensure the systems are good to go for Monday's check distribution.
"First batches of checks will be distributed on Monday, and we thank everyone for their patience,” he said.
DRT encourages taxpayers to continue registering for direct deposit on the CNMI stimulus portal to ensure payments are received as quickly as possible.
Approximately 30 percent of filers have registered for direct deposit to date.
DRT 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.
Officials said those who do not receive their maximum third round payment in 2021, may be eligible to claim the 2021 Recovery Rebate Credit when you file your 2021 income tax return in 2022.