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The Virgin Islands Bureau of Internal Revenue has issued a release reminding Virgin Islands residents of the availability of the federal stimulus payment of $1,200 for individual or head of household filers, and $2,400 for married residents who file joint returns.
In accordance with the IRS regulations, the deadline to file a return to receive this stimulus payment is October 15, 2020, said the bureau. B.I.R. said it will continue to make payments until December 31, 2020.
"Taxpayers are eligible for the stimulus so long as they are not claimed as a dependent on someone else’s return, have valid Social Security numbers, have no income or have income that does not exceed the required thresholds," according to the release.
Taxpayers are also reminded that they are entitled to one stimulus check. "If a taxpayer receives more than one stimulus check, the taxpayer must return the additional check to the Bureau immediately," B.I.R. said.
Taxpayers who miss the deadline will be able to claim the Economic Impact Payment on the 2020 income tax return.
