Editor’s Note: Many of those quoted in this story asked that they be identified only by their first name.
Many taxpayers who registered in the Department of Finance’s web portal for the second stimulus payments started receiving on Monday and yesterday their $600 payment through direct bank deposits.
Jenny, a store cashier, said she was so happy when she checked her bank balance yesterday morning and found out that the $600 had already been credited to her account. She said she registered with Finance’s portal only last Saturday.
She said her other co-workers also received their payments yesterday.
“This money is a big help for me and my family,” the cashier said.
Ben, an accountant, said he registered in the portal yesterday but found out that the money was already in his bank account on Monday. Ben said he only learned yesterday about Finance Secretary David DLG Atalig’s statement that if taxpayers have already registered for direct deposit on the first stimulus checks, they do not need to register again.
Atalig said in a press statement Sunday that this web portal is for those that got a paper check last time and would like to opt-in for direct deposit for this second stimulus and future stimulus payments.
Earlier on Wednesday, Gov. Ralph DLG Torres announced that the CNMI 2020 Recovery Rebate Credit and Second Economic Impact Payments Plan for $41.3 million has been approved by the U.S. Department of Treasury.
At a radio news briefing last Friday, Atalig said their approved implementation plan included their estimate of how much they need to receive in order to pay all taxpayers. Atalig said they got an immediate transfer of 90% of that number.
“And so if I requested a $1,000, they gave me $900 and the 10% will be requested as we get more documents and information on additional taxpayers that need to be paid out,” he said.
The secretary said they will then submit that list similar to their process request for child tax income credits.
He said they will submit a request of taxpayers and their other information and then the Internal Revenue Services will transfer those funds to Finance.
“On receipt of the funds, we will disperse those funds right away,” Atalig said.
Finance Division of Revenue and Taxation is expected to process nearly 31,000 second stimulus payments.
For those taxpayers who do not opt-in for direct deposit, DRT is expected to mail the paper checks by next Friday.
According to Finance’s website, which can be found at https://finance.gov.mp, the CNMI stimulus portal is open until March 20, 2021. The portal allows an eligible person to register to receive his/her federal stimulus payment directly in his/her bank account.
Eligibility and payment amount will be determined based on the 2019 tax returns.