The Secretary of the Department of the Treasury, Francisco Parés Alicea, and his work team, offer more details about the second round of the Economic Impact Payment of $ 600 in a Facebook Live.
The Treasury is still waiting for the approval of the economic stimulus distribution plan by the Internal Revenue Service (IRS, for its acronym in English).
Once this occurs, the head of the Treasury expects that “in a space of three to four weeks, 90% or 95%” of the payments to the residents of Puerto Rico will have been made.
The $ 600 round of checks would benefit 2.8 million Puerto Ricans in the coming weeks, according to Parés Alicea. It is estimated that this project will inject up to $ 1.7 billion into the local economy.
The new economic stimulus can only be distributed among those who filed their request with the 2019 return.
Meanwhile, people who submitted their application with the 2018 return will have to wait until next January 15 to file with an extension, the 2019 return. Otherwise, they will not be eligible for financial aid of $ 600.
In principle, they qualify individual people whose income does not exceed $ 75 thousand per year.
For couples filing joint income tax returns, aid would reach $ 1,200 — or $ 4,000 if the new amendment is approved. They must not have joint incomes above $ 150 thousand per year.
For dependent children under 17, the $ 600 would also be received. But not university dependents and dependents over 65 years of age.
In the case of people with debt in Asume, the secretary commented that the money is intercepted.