If you're expecting an advance child tax credit payment, your check will soon be in the mail or deposited directly into your account. 

The Guam Department of Revenue and Taxation processed 15,556 payments totaling $8,499,895 on Monday. 

"We're very excited to get those out. ... People can start to see their payments coming in either by mail or by direct deposit starting the end of this week," said DRT Director Dafne Mansapit-Shimizu.

This is the first of five installments for the advance child tax credit for Guam residents, according to a press release. 

The other four installments of the advance child tax credit will be processed Sept. 30, Oct. 15, Nov. 15 and Dec. 15. 

The American Rescue Plan Act of 2021 authorized the advance child tax credit. It gave mirror code territories the opportunity to elect to opt into the advance child tax credit for their respective jurisdictions. If the government of Guam did not opt in, island residents would have had to wait until they filed their 2021 Guam income tax returns in calendar year 2022 to benefit from the enhancements to the child tax credit.

The American Rescue Plan advance child tax credit provisions include:

• The maximum child tax credit increased to $3,600 for children under the age of 6 and to $3,000 per child for children between ages 6 and 17.

• The credit includes children who turn 17 in 2021. 

• Taxpayers may receive part of their credit in calendar year 2021 before filing their 2021 Guam income tax return.

"Over the last year and a half, the Department of Revenue and Taxation has administered EIP1, EIP2, EIP3, Ayuda I Mangafa Help for Families, and most recently, the All RISE Program," said Gov. Lou Leon Guerrero. "The expanded child tax credit under the American Rescue Plan is now the sixth COVID-19-related program to be successfully executed by DRT, and we are thankful for the team working tirelessly behind the scenes to get this direct aid into the hands of our people."

Mansapit-Shimizu said many DRT employees "have been working six days a week for well over a year now."

"And they've been working over the last several weeks to refine all of the programming for this system. Our IT team actually prints out the checks so that we can, again, get those completed and (then) we can get those transmitted to the Treasury of Guam so they can go ahead and get those stamped and mailed to our people and also so that direct deposits can be made," she said. 

Lt. Gov. Josh Tenorio said the payments will "provide reprieve and stability for our families who may be struggling during these unprecedented times."

"As we begin to transition thousands of our school children back to in-person learning, these payments can also support their well-being and their studies, in addition to the economic benefits these dollars will have on our economy," he said. 

According to DRT, if residents have a validly filed and processed 2020 Guam income tax return or a validly filed and processed 2019 Guam income tax return where they've claimed eligible dependents and DRT has all required information for those dependents, including their name, social security number, date of birth, and relationship, no additional steps are necessary to receive the advance child tax credit.

Taxpayers who qualify for the advance child tax credit will have the opportunity to provide information for their eligible dependents, including adding, removing or updating dependent information.

Once DRT launches the Child Tax Credit Update Portal, residents will be able to access it online at www.myguamtax.com.

Eligible taxpayers who don't want to receive an advance payment of the 2021 child tax credit will have the opportunity to unenroll from receiving the payments. Once unenrolled, the taxpayer will not be able to reenroll.

(Daily Post Staff)

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