The Guam Department of Revenue and Taxation has announced that it has received an additional $18.262 million in Economic Impact Payment (EIP) Program funding on Thursday from the U.S. Treasury.
DRT worked with the Internal Revenue Service and the U.S. Treasury to obtain additional funding for the program. Total EIP funding received from the U.S. Treasury to date is $150.213 million. This is $15.413 million over the originally approved amount of $134.8 million.
EIP Program Payment Update
DRT processed 1,167 EIP Program payments totaling about $1.89 million. Altogether, for the months of April 2020, May 2020, June 2020, and July 2020, DRT processed 72,033 EIP Program payments totaling about $131.19 million. This represents about 87% 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.
In line with the CARES Act, DRT will continue to process EIP Program payments through December 31, 2020. Consistent with the IRS, Guam DRT urges all eligible non-filers to file their Forms EIP-NF as quickly as possible so that they will be able to receive their EIP Program payment.
“Plus $500 Push” Initiative
Guam DRT has 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.
$1,200 payments 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.
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 is Friday, July 24, 2020. 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.
Deadline for Filing Form EIP-NF
Only eligible, Guam Form EIP-NF filers who file by October 15, 2020, by all filing mechanisms allowed by Guam DRT, will be able to receive their payments by December 31, 2020. Anyone who files after October 15, 2020, will be required to file their 2020 income tax return in order to receive a credit for the Economic Impact Payment.
Basis for EIP Program Payment Processing
EIP Program payments are 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 filed and Guam DRT has not processed the individual’s 2019 Guam Individual Income Tax Return at the time of certification of EIP to be paid, but has a validly filed and processed 2018 Guam Individual Income Tax Return, then Guam DRT shall determine based on validly filed and processed 2018 Guam Individual Income Tax Return.
The Guam DRT worked to ensure that the language “validly filed and processed” was approved by the IRS and the U.S. Treasury so that Guam residents would be able to receive their EIP Program payments as soon as possible. This language was very critical to the agency being able to follow the pillar of the CARES Act which requires that payments be made as rapidly as possible to eligible recipients. Had this language not been included, DRT would have only been able to pay a fraction of what it has been able to pay. This would have resulted in thousands of Guam residents waiting for potentially up to several months before receiving their EIP Program payments.
The following are potential reasons you may not have received your EIP Program payment if you have already filed a return:
*Issues relating to an incorrect mailing address.
*Issues relating to a mismatched social security number.
Issues related to eligibility requirements such as the income threshold or when someone has claimed you as a dependent.
Improper use of the Non-filer claim form when required to file an Income Tax Return for either or for both 2018 and 2019.
Issues related to a late-filed Income Tax Return for tax year 2018. Keep in mind that tax year 2019 was extended to July 15, 2020.
All Guam residents are required to file with the Guam Department of Revenue and Taxation. Residents of Guam should not use the non-filer portal on the IRS website.
EIP Program Notices
Notices were sent to EIP recipients in line with the CARES Act. EIP recipients are encouraged to keep these notices so that when they file their 2020 return, they will be able to reconcile with that notice to claim additional credits should they be entitled.
EIP Program Lookup Portal
For those taxpayers or non-filers who would like to check the status of their EIP Program payment, DRT has launched its EIP CARES Lookup Portal at www.myguamtax.com.
Taxpayers/non-filers must register at the Individual Login section of the website in order to check on their payment status.
You can find DRT’s FAQ on the Guam EIP Program 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.
Due to high call volumes, however, DRT recommends e-mailing general questions regarding the Guam EIP Program to [email protected].