The Department of Finance The disbursement process of approximately $ 396 million for the Economic Impact Payment of $ 1,200 to thousands of citizens began tonight.
“I am very pleased to announce to taxpayers that we have already started disbursement of the Economic Impact Payment, included in the CARES ACT. About 230,000 people will see the help reflected in their accounts between tomorrow and Monday. The implementation of this Distribution Plan, which was approved by the federal treasury today, It has been in record time, “said the governor in a statement.
For his part, Parés Alicea highlighted that for this first disbursement of this economic relief to face the effects of the coronavirus COVID-19 pandemic, The $ 400 million in the account of the Secretary of the Treasury was used as an advance, while the Federal Treasury completes the deposit of the total funds in the government coffers.
“This is the first disbursement of the first phase, and thousands of citizens will see it in their bank accounts between tomorrow and next Monday. We continue to work rapidly to complete the next phases,” said the secretary.
The first disbursements correspond to taxpayers who had already filed their income tax return for the year 2019 and included their bank account number in their information, as previously indicated by Parés Alicea.
In the second phase, the money will be disbursed to the taxpayers who submitted their 2018 income tax return.
“It has been a very complex design, negotiation and implementation process, but we have managed to obtain the approval of the Distribution Plan and begin disbursements the same day. It is the most comprehensive aid program in history. We are very pleased and satisfied with the work that the Treasury team has done to achieve the governor’s mandate to get that money to homes as soon as possible, “said Parés Alicea in written statements.
The head of the Treasury stressed that at the end of next week, the quick link “Payment Economic Impact CARES Act” will be enabled through the Unified Internal Revenue System (SURI), for taxpayers who filed the 2019 return and did not register their accounts of Bank.
“All the aid, which is estimated at about $ 3,000 million, will be delivered mainly by direct deposit. For this reason, it is very important that you keep an eye on the information that we will be providing so that, when we tell you, you can access the link that has been prepared and fill in the information about your bank account, ”said Parés Alicea.
On the other hand, a questions and answers section is now available on the Hacienda website www.hacienda.pr.gov to answer citizens’ questions.
“We include questions about who is eligible to receive payment; how the amount of it is determined; information on people who are considered qualified dependents and how to request and receive payment, “he added.
Parés Alicea stressed that additional details will be provided later on in the rest of the disbursement phases.