Now that President Biden has signed the new coronavirus relief bill, many are looking forward to the next round of stimulus payments.
So what can the people of Guam expect?
Guam Rev and Tax director Dafne Shimizu told Newstalk K57’s Patti Arroyo that she’s been in constant contact with the IRS to nail down the details.
She said that it looks like EIP 3 payments will be $1,400 for individuals and dependents and $2,800 for joint filers.
She also said that income limits for this round of stimulus payments may be lower than for the first two rounds.
Shimizu said that one topic her department has been repeatedly asked about is how EIP 3 will address dependents.
She said that it looks like dependents of any age may be eligible for EIP to include college students, disabled dependents, and elderly parents.
During EIP 1 and EIP 2, dependents over the age of 16 didn’t qualify even if they were still being supported by an adult.
Shimizu said that the DRT will announce the full details of EIP 3 once their plan is finalized.
People in the states can expect to get their EIP 3 payments as early as this weekend.
Guam, however, will take a little bit longer.
Earlier this week, Shimizu said that the EIP 2 program took about 3 weeks to roll out after it became law.
“In regards to the IRS, as soon as it becomes law, they are able to do their rollout. We have to work with the IRS to make sure that we prepare our implementation plan and actually now, it’s going to be an amendment to our implementation plan. This is our second amendment to our implementation plan, to add EIP 3. And we again, just need to make sure that all of these little kinds of nuances and little adjustments to EIP 3 are made,” Shimizu said.
Shimizu said that she’s encouraging those who still haven’t filed their 2019 tax returns to file as soon as they can but to still take care to file them correctly.