The situation may not bode wellbefore the end of the year, but the staunch support gives hope that some momentum will come again. When and if it does pass, the next question is, how soon can you get it?
There are several answers. We will elaborate on the elsewhere. But here we’ll explain the general framework the IRS used to conduct incentive checks under the CARES Act, and why that matters to how quickly you can receive your instant payment.
Turns out, where you stand in line andcan leave the delivery of your check with someone else for days, weeks, or even months. A second round of payment would probably work the same way, although there may be things you can do .
Below we explain what the different “priority groups” are and what they can do for you. If a second stimulus check doesn’t go through in 2020 as part of a bill, here is. We recently updated this story with new details.
These are the 5 incentive payment groups based on the first check
When thepassed in March, it took a few weeks for the IRS to build a tool and procedure to find out who owed a check and for how much. of your household’s total amount, but the check sending schedule may have felt much less conscious.
With the IRS under pressure to get stimulus money quickly, the speed at which you received your check often depended on the method you were paid with. Any kind of complication can slow it down. In addition, some calculation errors caused some people who might not see it.
Direct Deposit Recipients: People who use theirregistered with the IRS or providing that information when and whether the registration is reopened, must be first in line to receive a stimulus check. An electronic money transfer is faster and more efficient, which means that this group received their first payment much faster.
Beneficiaries of social securityAt the first incentive payment, many Social Security beneficiaries who had direct deposit information with the federal government received checks in the first week, but not always on the first day.
People who get paper checks: About a week later, the IRS started sending checks to those with no direct filing information on file.
EIP card receivers:are prepaid Visa cards that the IRS has sent to about 4 million people as of mid-May. If the IRS follows the same order of payment priority, this group can begin to see their payment weeks after the first direct deposits have been made.
People with more complex situations: This category includes people who received a check after June, are still waiting for their incentive payment, or who. Direct payments will continue until the end of 2020 for some individuals who were not part of the previous groups. Here’s what could be there for some people and to report a missing, lost, or stolen check.
Why the IRS can’t send checks to everyone at the same time
There are a few reasons why the IRS doesn’t send all of the incentive payments at once. One of them is the sheer number of payouts it has to handle. With the first check, the IRS said it could deliver anywhere from 5 million to 7 million paper incentive checks per week, is less than $ 20,000, and then moving to people whose AGIs are getting bigger, according to the Government Accountability Office.
Another reason why payments are made at different times for different people depends on how they get the money. By the summer, the IRS had sent money to at least 160 million people, as had the federal governmentinformation to get their checks first.
Physical checks andfollowed, creating a de facto order of priority that could result in some Americans receiving their checks days or even weeks earlier than others.
In fact, the last checks of the first round are still being handed out this month, anddue to errors and unclaimed checks will keep coming in 2021. Some people will even have to do that as part of their 2020 tax return.
Some people were still waiting for their first payment this month
While the majority of people who lined up to receive an incentive check got theirs in late July, through the end of November, there were still millions of people who were eligible for incentive money who had not received it. That includes, Someone who and (including and people who ).
If you have aand did not receive a check as expected, you may also need to research. And a new court ruling has made it possible for millions to get a check even after the IRS changed its rules to exclude this group.
The November 21 deadline to claim payment in 2020 has passed, but you canduring the 2021 tax season.
Depending on which group you’re in, we’ve also mapped out some speculative dates.