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Home / Tips and Tricks / Delayed second stimulus check: when your payment might come and why January 15th is important

Delayed second stimulus check: when your payment might come 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

Your second stimulus control has been officially delayed. When Congress released a new COVID-19 relief law Last week, Treasury Secretary Steven Minuchin promised he would start shipping up to $ 600 per person a week later. President Donald Trump was expected to sign the bill into law, and then the Treasury and the IRS could start delivering second stimulus check money through direct deposit, followed by paper checks and EIP cards (more on that in a minute).

But that did not happen. Instead, Trump has constantly criticized the “measly” upper limit of $ 600 negotiated by Mnuchin – his White House representative in stimulus talks – and backed by the majority of Republican and Democratic lawmakers. Instead, Trump says he wants to $ 2,000 second stimulus checks. He has not made any public comments about his intention to sign the bill or veto it. But the longer it takes for a resolution of any kind, the more the timeline will be redirected before you receive another direct payment.

On Saturdays, the weekly federal unemployment insurance has lapsed. The deportation ban will follow along with other programs that are set to end on or before December 31 if Trump doesn’t sign the bill.

Complicating matters is an already short deadline for the delivery of it second stimulus control that is baked in the language of the bill. The IRS will no longer be able to make stimulus payments after Jan. 15, a three-week period will likely leave tens of millions of people who would have to wait even longer to claim their money in another way. We explain it below. (Here’s where you can estimate the payment of your stimulus check, and read a third stimulus check in 2021.) This story will be updated with new information.

How soon would the IRS be able to make 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 such an important date?

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.

How long can it take before I receive a second stimulus check by 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.

But after January 15th you will have to claim all the money the IRS owes you with your 2021 tax return. That could further slow down your stimulus check, as the timing would depend on:

  • When filing your taxes for 2020, the deadline can be April 15, unless you are applying for an extension.
  • How long it takes for the IRS to process your tax return, which may include your second incentive check.
  • If there are any complications in your particular scenario that could further delay your check.

We keep an eye on the situation, which is constantly evolving. Here are the latest updates of the second stimulus control and here’s how you can now calculate your estimated total for up to $ 600 per person.


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