Francisco Parés Alicea

Treasury Secretary Francisco Parés Alicea. 

Puerto Rico Treasury Secretary Francisco Parés Alicea reported that the $600 federal stimulus has been disbursed to nearly 800,000 families on the island during the first week of disbursing the second wave of the Economic Impact Payment.

"Last Tuesday, mere hours after receiving from the U.S. Treasury the approval of the Distribution Plan for the second round of the Economic Impact Payment of $600, we started the extraordinary deposit schedule and closed the first week, last Friday, with $760,151,225 disbursed; 797,655 families. [Today], Monday, January 25, we will begin the disbursement days for the second week of the agenda, which we hope to culminate in mid-February," the secretary stated.

Parés underscored that the agency will make hundreds of thousands of consecutive payments, almost daily, during the coming weeks and that they will be reflected in the bank accounts of citizens as they are processed by the different financial institutions.

"As we anticipated, the disbursement plan is flowing at a good pace and faster because in 95 percent of the cases, the Department already has the necessary banking information to carry out direct deposit. We recognize that this additional $600 aid will alleviate the economic situation that the COVID-19 emergency has caused, so we continue to work so that everyone receives it as soon as possible," he said.

He stressed that most of the people eligible for this additional help, according to the requirements of federal law, will receive it directly in their bank accounts without having to do any paperwork through the Unified Internal Revenue System (SURI by its Spanish acronym) or in the Department.

"The people who received the $1,200 do not have to carry out any procedure in SURI if they maintain the same bank account, so it is not necessary for them to enter SURI, or visit the Department's offices," Parés explained.

Moreover, he recalled that there is a link available in SURI only for those people who changed the bank accounts where they received the $1,200, either as a result of the recent merger between two banks or because they opened new accounts. The link is also available for those who received the first payment of $1,200 by check and want to receive the additional $600 by direct deposit.

It is not necessary to register in SURI to change the account number. It is accessed through the Federal Economic Impact Payment link that is on the main page, suri.hacienda.pr.gov, and then in the "Update your Account Information" option. For assistance, cybernauts can write through the Suri Assistance link also found on the SURI home page.

On December 28, 2020, the P.R. Treasury, also known as Hacienda, submitted a draft of the Distribution Plan to the Internal Revenue Service (IRS) that was approved in 23 days. The first $1,200 Economic Impact Payment plan took 36 days to approve.

This new aid will reach nearly 2.8 million Puerto Rico residents, representing roughly $1.7 billion. Payments will be $600 per individual and $600 per qualified dependent, or $300 for joint custody.

The stimulus will be disbursed t individuals with a valid Social Security number who have resided in Puerto Rico during the tax year and who haven't been claimed as dependents in another person's income tax return.

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.