Guam receives additional $18M in stimulus funds
The U.S. Treasury has transferred an additional $18.262 million to Guam for the Economic Impact Payment program, the Guam Department of Revenue and Taxation announced Friday.
The newly released amount brings to $150.13 million the total EIP funding received by Guam under the Coronavirus Aid, Rescue and Security, or CARES Act.
"This is $15.413 million over the originally approved amount of $134.8 million," according to the governor's office.
This week, DRT processed 1,167 EIP payments totaling about $1.89 million.
Since April, DRT has processed 72,033 EIPs totaling about $131.19 million, which represents about 87 percent of the total funding received from the U.S. Treasury.
"DRT is processing EIP Program payments on a weekly basis. All EIP Program checks processed are transmitted to the Treasurer of Guam for mailing. The last batch was transmitted on Thursday July 16, 2020," the governor's office said.
Processing of EIP payments will continue through Dec. 31.
FAQ on the Guam EIP Program can be found in the Covid-19 section of the DRT website at https://www.guamtax.com/. DRT’s call center numbers are 635-1840/41/42/57 and 635-7603/04/06.
Guam DRT has also launched the “Plus $500 Push” for Social Security, Railroad Retirement, and Veterans Affairs benefits recipients who have not already received their EIP Program payments and have not filed an income tax return or a non-filer form.
The Internal Revenue Service has provided to Guam DRT information on these recipients. Guam DRT will use that information to process payments.
The amount of $1,200 will be issued to these recipients, and in order to add the $500 per eligible child amount to these payments, Guam DRT needs the dependent information before the payments are issued. Otherwise, their payment at this time will be $1,200 and, by law, the additional $500 per eligible child amount will be paid in association with a return filing for tax year 2020.
Juy 24 is the deadline for the filing of the Form EIP-NF in order for Social Security, Railroad Retirement and Veterans Affairs benefits recipients, who have not already received their EIP Program payments and who have not filed an income tax return or non-filer form, to claim their eligible dependents. The Form EIP-NF must be filed online at Guam DRT’s website www.myguamtax.com in order for these payments to be processed to include any additional dependents.
Only eligible, Guam Form EIP-NF filers who file by Oct. 15, by all filing mechanisms allowed by Guam DRT, will be able to receive their payments by Dec. 31, 2020. Anyone who files after Oct. 15 will be required to file their 2020 income tax return in order to receive a credit for the Economic Impact Payment.