قالب وردپرس درنا توس
Home / Tips and Tricks / A second $ 600 stimulus check has passed Congress. Would your payment group be the first or the last?

A second $ 600 stimulus check has passed Congress. Would your payment group be the first or the last?



002-money-cash-dollar-bills-hundreds-spotlight-black-background-money-clip-stimulus-check-bill-savings-poverty-hope

Will you be first in line for a stimulus check, or last?

Angela Lang / CNET

Congress voted for the Bipartisan stimulus package of $ 900 billion Monday night, one second stimulus control stepping closer to reality. Once President Donald Trump it COVID-19 emergency, it will be one second stimulus check for $ 600 for tens of millions of people who received the first check. (A lot of can now be disqualified.)

We have a good idea when the IRS could start sending the second stimulus check. Treasury Secretary Steven Mnuchin says he expects to send the first batch of payments next week direct deposits are delivered to bank accounts before December 31. But just like last time, some people will get their second stimulus control days, weeks and even months after others. It can depend on the IRS payment group you are in and how fast the IRS can send checks. (Now calculate the total of your second stimulus check.)

For example, there appears to be a January 15, 2021 cut-off. If you haven’t received your payment by then, you may need to claim your second stimulus check as a Refund discount during the next tax season. We’ll explain everything we know about how the IRS plans stimulus check delivery and what you might fit into. This story is regularly updated with the latest information.

First, people who filed a direct deposit with the IRS

People who use their direct deposit information registered with the IRS, or who quickly provide that information when and if the IRS registration opens it again, are expected to be in the first group to receive a stimulus check. Wire transfer is faster and more efficient than sending a check, so this group got their first payment much faster.

read more: A third stimulus check in 2021? This is why January’s new convention could be key.

“The good news is [direct deposit] is a very, very quick way to get money into the economy. Let me stress: people will see this money early next week, ”Mnuchin said on Monday during a phone call with CNBC.

For the first stimulus check, the IRS took 19 days to build their online tool. On April 15, it sent the first batch of stimulus checks, and in the first week, it sent about $ 80 million payments to eligible recipients by direct deposit. People were encouraged to sign up for direct deposit through May 13 to receive their checks faster than by mail. Some have been there holdups with the tool or with their personal situations, but overall this was the fastest method.

Here are ways you can help speed up the delivery of your next checkincluding what we now know sign up for direct deposit.


Now playing:
Look at this:

Following stimulus checks: what to expect


3:03

There are two scenarios for social security beneficiaries

On the first incentive payment, many people who received Social Security benefits who also had direct deposit information registered with the federal government received checks in the first week, but not always on the first day.

The IRS had a separate information section for people that receive SSDI and SSI. Normally, people in these groups receive their federal benefits through a Direct Express card, although people in this group received their incentive payment through a non-Direct Express bank or paper check.

Delivery times of physical stimulus control may vary

With the first batch of payments, the IRS began sending out checks about a week after people with direct deposit information were on file. According to a June report by the Government Accountability Office, the U.S. Treasury can process between 5 million and 7 million paper incentive checks per week, in addition to checks for other federal programs.

The IRS and the Treasury Department said they began sending checks to people with an adjusted gross income, or AGI, is less than $ 20,000, and then moving to people whose AGIs are getting bigger and bigger.

The IRS has said it sent a total of 160 million economic impact payments on the first check, meaning it took months to distribute paper checks to each eligible recipient. In fact, the IRS is finishing its distribution this month. Anyone who has not received a full or partial payment will early 2021 during the tax season.

004-cash-money-dollar-banknotes-colorful-background-stimulus-2020

When you get your incentive money it may depend on who you are.

Sarah Tew / CNET

Are the EIP cards sent last on the list?

Debit cards with economic impact are prepaid Visa cards that the IRS mailed to about 4 million people as of mid-May. If the IRS follows the same order of payment priority, this group may start to see their payment within a month of the first direct deposits made.

As with paper checks, the IRS could process 5 to 7 million EIP cards per week. Payments arrived in unmarked envelopes, making them difficult for the recipient to identify, but also reducing the risk of postal fraud theft. It’s unclear whether the IRS would keep the same EIP card delivery schedule with a second stimulus check.

People with more complicated situations

This category includes people who received a check, or who have not yet received their full incentive payment, after June didn’t know they had to go the extra mile.

Direct payments will be finalized at the end of December. This is what could be there withhold the delivery of the stimulus check for some people and how to contact the IRS to report a missing, lost, or stolen check. You may be eligible to claim a catch-up allowance from the IRS, called a Recovery Rebate Credit, in tax season 2021.

money-cash-dollars-bills-bank-stimulus-covid-finance-7182

Understanding your stimuli priority group can help you determine your expectations about the next check.

Angela Lang / CNET

What if you didn’t receive your full payment on the first check?

It’s not always clear how much money the IRS owes you in the event of an error. We recommend starting with our stimulus check calculator and this introduction how the IRS gives your total sum in tabular form. If the numbers seem lower than they should be, you may want to investigate further.

See if any of these situations might apply to you: Are you missing the $ 500 allotted for your dependent children, or you pay or receive child support? Are you a taxpayer non-applicant who may be due a stimulus check (including older adults and people who Receive SSI or SSDI)?

If you have a US citizen abroad or resident in US territory and did not receive a check as expected, you may also need to read the rules. And a new court ruling has made it possible for millions people who are locked up to get a check even after the IRS changed its interpretation to exclude this group.

Depending on which group you’re in, we’ve also mapped out some speculative dates how soon you could possibly get your next stimulus check.




Source link