NMI still awaiting IRS’ approval of plan for child tax payments
The Department of Finance is still waiting for the Internal Revenue Service’s approval of the implementation plan for the advanced child tax credit payments to qualified families, which explains why the checks have not been issued yet.
Speaking at radio press briefing Friday, Finance Secretary David DLG Atalig acknowledged that the IRS has already started releasing advanced child monthly payments in the U.S. mainland but, similar to the last three federal stimulus payments, the CNMI is a few weeks behind the U.S mainland.
And it’s not just in the CNMI, Atalig said, but for all American territories, so those in Guam, American Samoa, Puerto Rico, and U.S. Virgin Islands also need to have their implementation plans approved and agreed first between the government, the tax office and the IRS.
“We have yet to receive the draft plan,” Atalig said.
He assured though, that their office is in communication with IRS several times every week. “So we’re doing our best to get this moving forward,” he said.
Once they get this plan approved, IRS will remit the funds within 24 to 48 hours for Finance to release the advanced child tax credits to qualified taxpayers, Atalig said.
Gov. Ralph DLG Torres has already exercised his authority over the payments of advanced child tax credits so that qualifying families can receive $300 a month per child for children ages 0-5 and $250 a month per child for children ages 6-17 as early as this summer and until the end of the year.