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The V.I. Bureau of Internal Revenue on Friday issued a release stating that taxpayers who have not filed tax form 1040 for 2019 should do so by Wednesday, July 28. B.I.R. said filing by July 28 will provide the bureau with adequate time to process the Child Tax Credit payments offered as part of the American Rescue Plan.
"Taxpayers are reminded to sign the tax return and make sure that all social security numbers are correct," the bureau said. "Taxpayers are urged to review the return and ensure that the mailing address on the return is correct. Addresses should include the correct routing number as issued by the U. S. Postal Service, to assist in the efficient delivery of the mail, if being delivered to a physical address."
B.I.R. said filers should not use their physical address on a tax return if mails are not received at home. Taxpayers are also reminded that they can continue to bring birth certificates and Social Security cards for dependents being claimed on the tax return, the release stated.
Governor Bryan said last week that residents of the territory are expected to start receiving Child Tax Credit payments in August, roughly a month's delay compared to the U.S., which started issuing payments last week.
Speaking briefly to the Consortium, Mr. Bryan explained the reason for the delay as well as why the V.I. Bureau of Internal Revenue in some cases is requiring parents to provide the birth paper and Social Security number of their children.
On the delay in the USVI, Mr. Bryan said the Internal Revenue Service has not approved a plan to deliver the payments, and therefore the USVI remains in a waiting position until approved. "We're not going to be able to issue any before August because we don't have an approved plan back from the IRS," the governor said.
Mr. Bryan said his administration is expecting the IRS to approve the plan "in a week or two," at which point the administration will issue two checks for the month of August, and a check every month thereafter.
On the reason for B.I.R. requiring at times a child's birth paper and Social Security number, the governor explained, "Some of the [tax filers] have on their application their Social Security number and some don't. And you're supposed to have your Social Security number on your tax form in order to verify it. You're supposed to put your Social Security and your children's on the tax form with your file. If your Social Security number is already there, you're good, if it's not there then you need to get the Social Security number."
B.I.R. residents should refer questions about the Child Tax Credit to Perpetua Cranston on St. Croix at 773-1040, extension 4233, and to Clifford Charleswell on St. Thomas and St. John at 715-1040, extension 2271.
