IRS announces EIP deadline

While few Marianas residents file an income tax return with the U.S. Internal Revenue Service, the Marianas tax system mirrors the rules and requirements of the federal system. So, we wanted to pass on an alert from the IRS that the deadline to register for an Economic Impact Payment is now November 21, 2020. Congress authorized the EIPs ($1,200 for individuals and $2,400 for joint taxpayers) in the CARES Act last March. Qualifying dependent children were also eligible for $500 each. The IRS also announced that incarcerated individuals are now considered eligible for an EIP, per a recent court order. See IRS FAQ #A7. Self-supporting college students, who do not file a tax return or have little to no income, were also reminded to register by November 21 to receive their Economic Impact Payment.