The Guam Department of Revenue and Taxation has processed an additional $2 million in Economic Impact Payments.

Since April, Rev and Tax has processed approximately 66,300 EIP program checks totaling $121.98 million, or approximately 90% of the estimated $134.8 million approved by the Internal Revenue Service and U.S. Treasury.

According to Rev and Tax, in May 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 within a little over two weeks of the passing of the CARES Act.

In line with the CARES Act, Rev and Tax will continue to process EIP program payments through Dec. 31.

Payments will be based on validly filed and processed 2019 Guam individual income tax returns, and if an individual has not filed a 2019 Guam individual income tax return or if one was filed but not processed by GRT at the time of certification of EIP to be paid, but the individual has a validly filed and processed 2018 Guam individual income tax return, then Guam DRT shall determine the payment based on the validly filed and processed 2018 Guam individual income tax return.

All EIP program checks were transmitted to the Treasurer of Guam for mailing, with the last batch being transmitted Thursday. All EIP program payments processed were subject to garnishments for child support in line with what is required by the CARES Act.

Residents of Guam should not use the nonfiler portal on the IRS website, the department stated. All Guam residents are required to file with the Guam Department of Revenue and Taxation.

1
1
0
2
5

Recommended for you