The Guam Department of Revenue and Taxation (DRT) announced today that on Friday, June 19, the agency processed 1,536 economic impact payments totaling about $2.36 million.
Altogether, for the months of April, May and June, DRT processed approximately 67,800 EIPs totaling about $124.3 million. This represents about 92 percent of the estimated $134.8 million which was approved by the Internal Revenue Service and U.S. Treasury.
In the month of May 2020, the agency processed approximately 56,700 EIP Program payments totaling about $107 million with about $96 million of the $107 million being processed within seven days from receiving EIP funding from the U.S. Treasury. This was in addition to the approximately $11 million which was processed in the month of April 2020 within a little over two weeks of the passing of the CARES Act.
DRT is processing EIPs on a weekly basis. In line with the CARES Act, DRT will continue to process EIP Program payments through Dec. 31.