Sunday, July 5, 2020

U.S. Treasury Approves Disbursement of $1,200 Stimulus Checks

By on May 4, 2020

SAN JUAN – Puerto Rico Gov. Wanda Vázquez Garced announced Monday that U.S. Treasury Secretary Steven T. Mnuchin approved the disbursement on the island of the Economic Impact Payments (EIPs) included in the $2 trillion package passed by the U.S. Congress last month, the Coronavirus Aid, Relief and Economic Security Act (Cares) Act.

Her announcement comes after the U.S. Treasury’s approval Friday of the commonwealth government’s distribution plan, which also provides the details for the reimbursement of the EIPs by the U.S. Internal Revenue Service (IRS), currently estimated at approximately $3 billion.

“Since this weekend, EIPs have been deposited to the bank accounts of thousands residing on the island, and Hacienda [Puerto Rico Treasury Department] will continue to work to deliver these payments in a timely manner,” the governor’s press release reads.

“We are pleased that Economic Impact Payments are being disbursed to U.S. citizens in Puerto Rico,” Mnuchin is quoted as saying. “I thank Governor Wanda Vázquez Garced and the Puerto Rico Department of Treasury (Hacienda) for working closely with us to ensure that this much-needed relief is provided quickly.”

U.S. Treasury Secretary Steven Mnuchin (Courtesy)

“We thank Secretary Mnuchin and his team for supporting Puerto Rico through this process and helping to alleviate the economic hardships of thousands as the island continues to grapple with the COVID-19 pandemic,” Vázquez said. “My Administration continues to take the necessary measures to ensure the health and safety of the people of Puerto Rico and we continue to move forward in an orderly manner to reopen the island’s economy. We welcome this partnership with the U.S. Department of Treasury and look forward to continuing to collaborate with Secretary Mnuchin.”

Also quoted in the release is Resident Commissioner Jenniffer González Colón.

“I’m honored to have worked with my Congressional colleagues to include Puerto Rico in the rebate payments of the CARES Act, and to see it come to fruition today,” the congresswoman said. “I thank President Trump for his commitment to aid Americans during this time of economic distress and uncertainty. I also thank Secretary Mnuchin, and the teams at the Department of Treasury and the IRS  for working with Secretary Pares and the Governor to review and approve this plan so that our constituents can rely on this federal aid as we, together, move forward to overcome this pandemic.”

“We will continue working diligently to ensure that U.S. citizens in Puerto Rico have access to available federal resources during this pandemic,” said Jennifer M. Storipan, executive director of the Puerto Rico Federal Affairs Administration (PRFAA). “These economic impact payments are a very important part of our recovery and will provide much-needed relief to those currently struggling to pay rent, purchase essential services, and pay bills. PRFAA looks forward to continuing our working relationship with Secretary Mnuchin and the U.S. Department of Treasury.”

“During this process, the U.S. Department of Treasury and the Internal Revenue Services (IRS) have provided Hacienda the necessary tools to ensure that thousands receive these stimulus checks,” said Hacienda Secretary Francisco Parés Alicea “This is a product of teamwork, and we want to thank Secretary Mnuchin for authorizing our Economic Impact Payment Distribution Plan and Ms. Dee Robinson and Commissioner O’Donnell from the IRS for collaborating with us through this process. We are committed to guaranteeing access to resources to the people of Puerto Rico as we continue to combat COVID-19 together.”

Vázquez also announced that a link will be made available shortly on the Unified Internal Revenues System (SURI by its Spanish acronym) for taxpayers who filed in 2019 but didn’t register their bank accounts. Taxpayers for whom the federal government does not have direct-deposit information, must either wait for a check to be mailed or provide their account information to IRS here.

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