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Home / Tips and Tricks / Delay Second Stimulus Check: When It May Come Now and Why January 15th Is Important

Delay Second Stimulus Check: When It May Come Now and Why January 15th Is Important



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Time is running out again to issue a second stimulus check for potentially 160 million Americans.

Sarah Tew / CNET

Congress has one new COVID-19 relief law right away second stimulus control up to $ 600 per person on Monday, but the package remains in dispute after President Donald Trump suggested he wouldn’t sign the completed bill unless the stimulus payment amount was increased from $ 600 to $ 2,000 per person.

Even before Trump’s opposition emerged, the second stimulus control Faced with a tight deadline – the language in the incentive law requires the IRS to send new payments by January 15. But with such a short timeline, tens of millions of people would have their second stimulus control within the three-week window. They would have to claim their money in a different way, which would take even longer (which we’ll explain further).

Anything is possible at this point, but if a bill goes into law next week or after that, the delay would affect more people waiting for their second stimulus control. An additional change to the language of the bill could theoretically be made in the 11th hour, but that didn’t make it into the public conversation. However, we have calculated a number of dates when your next direct payment could arrive, if it doesn’t – see our table below. (Meanwhile, here’s how estimate the payment of your stimulus check and what can happen to one third stimulus check in 2021.) This story has been updated with more details.

How soon could the IRS start sending the next incentive payment?

If Trump gives in and signs the new stimulus bill into law, the IRS and the Treasury can make the first set of payments through direct deposit a week later, compared to the 19 days it took to set up the online tools and plan the distribution of the first stimulus check.

“Most of these will be direct deposits. We call them ‘postal checks’, but most will be direct depositsTreasury Secretary Steven Mnuchin said Monday. It will be in three weeks. We are determined to get money into the people’s pockets immediately. So that will be in three weeks. ”

Since last summer, 75% of the first round of stimulus payments have been sent directly to people’s bank accounts direct deposit, the Treasury said, giving hope for the majority of people to receive their second payment by January 15th

In the chart below, we map out a possible payment schedule for the second round of checks, plus a projection if Congress agrees a third stimulus check next year, after Biden will be sworn in on January 20.

Possible dates on which a second and third stimulus check could go out

Dates for second check

Data for a possible third check?

House passes the final bill

21st of December

April 5th

Senate approves final bill

21st of December

6 April

President signs

December 28

April 7

First direct deposits issued

Week of January 4

Week of April 12

First paper checks sent

Week of January 11

Week of April 19

First EIP cards shipped

After filing tax returns for 2020

Week of April 26

Refund Discount

After filing tax returns for 2020

Unknown

Why is January 15, 2021 important again?

This is the closing date in the $ 900 billion incentive bill by then, the IRS and the U.S. Treasury Department will stop sending checks as part of this round of delivery. If you don’t have your full second stimulus check money before January 15, you must claim all or part of the missing amount when you file your federal tax return in 2021. You can also claim any money the IRS still owes you from the first round of payments as part of a Refund Discount at that time too.

What about people who get their second stimulus check in the mail?

Since the new incentive law sets a January 15th deadline for the IRS to send payments, people who receive their payments will second stimulus check in the mail – either as a paper check or a prepaid debit card – should seek payment in the first three weeks of January, Mnuchin said Monday. According to the Treasury, 22% of payments since last summer have been made with paper checks and another 3% with prepaid debit cards. You must do that after January 15th claim all the money the IRS owes you with your 2021 tax return.


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