V.I. Bureau of Internal Revenue said 2018 tax returns would be used for stimulus payments

The Virgin Islands Bureau of Internal Revenue said on April 28, 2020, that it planned to use 2018 tax returns to determine Economic Impact Payments under the CARES Act for territory residents.

Director Joel A. Lee said the bureau had been in weekly discussions with the Internal Revenue Service and other U.S. territories about the process for issuing the payments.

The bureau submitted a draft payment plan to the IRS on April 2, 2020, and said the plan was under review. Once approved by the IRS, the plan would be sent to the U.S. Treasury for final processing.

The bureau said the Treasury Department submitted a recommendation on April 26, 2020, estimating the cost of payments to eligible Virgin Islands residents at $84.7 million. The bureau said it accepted that estimate within 24 hours and was prepared to process payments once the plan was approved.

The bureau asked taxpayers who had not filed 2018 returns to do so in order to receive the payments.

Official source: https://www.vi.gov/vi-bureau-of-internal-revenue-provides-update-on-the-status-of-stimulus-payment-plan/