قالب وردپرس درنا توس
Home / Tips and Tricks / If a second stimulus check is approved this weekend, when will the first payment arrive?

If a second stimulus check is approved this weekend, when will the first payment arrive?



    001-cash-stimulus-money-time-running-out-clock-watch-check

How fast could the IRS send your money? We have a number of possible dates.

Sarah Tew / CNET

The House of Representatives is expected to vote as early as Sunday – or possibly Monday, if dealmakers cannot finalize and settle it – on a Incentive package of $ 900 billion which is reportedly set to become a second stimulus control for $ 600, an unemployment bonus of $ 300 and others federal benefits expire this month. Like the Senate and President Donald Trump also it new incentive account in the next few days, how soon can the IRS and the United States Treasury start sending your second stimulus control?

While the exact date when the first new direct payments can be delivered will depend on a number of very specific factors, we have a good idea when that might happen. For example the second stimulus payments is likely to be scheduled in waves according to different payment groups, similar to the first payments. We’ve mapped out some possible dates below depending on who you are and where you are can queue for a second stimulus check.

Read on for more current information that a second incentive payment. (And if you’re curious, here’s how third stimulus check may be possible in the new year.) We recently updated this story with the latest information.

read more: Would you like a third $ 1,200 stimulus check? Everything could change in January


Now playing:
Look at this:

Following stimulus checks: what to expect


3:03

When will Congress say yes to a second stimulus check?

Congress leaders are continuing the details of one $ 900 billion rescue package that could include $ 600 checks for adults and dependents. The House of Representatives could vote on more aid on Sunday after the last extension of this year’s federal budget runs out.

“We’re not leaving here without a COVID package. It’s not going to happen. We’ll stay here until we have a COVID package. However long it takes, we’ll be here,” said Mitch McConnell, Senate majority leader. December 15th.

After the President-elect is Joe Biden inaugurated on January 20, the new administration could try again for a larger invoice that might have a third incentive payment, especially if the results of two layoffs from the Georgia senate on January 5 support in favor of the Democrats. That would mean that that particular check is likely to go out in February at the earliest. See the table below for possible dates.

002-cash-stimulus-hang-us-out-to-dry-laundering

Are you hoping for a second stimulus check? You are not alone.

Sarah Tew / CNET

How long will it take for the IRS to send the first new checks?

Once a new incentive law is passed, the IRS and the Treasury may be able to collect the first set of payments faster than the last time. In August, Treasury Secretary Steven Mnuchin said it would take about a week from the time a new stimulus check is approved to the time the IRS could process the first batch.

“I can transfer 50 million payments very quickly. A lot of it in people’s direct accounts,” Mnuchin said at the time.

Here is one stimulus check the truth of many: Not everyone gets a payment at the same time. On the first check, the IRS divided stimulus payments different priority groups depending on the form in which you received the money and other factors.

In the chart below, these speculative dates show when you can see a payment if Congress comes to an agreement this year. We also outline three other timelines if another bill becomes law after Biden becomes president January 20.

Possible dates on which a second stimulus check can go out

Scenario 1

Scenario 2

Scenario 3

Scenario 4

House passes the final bill

Dec 20

February 1

March 1

April 5th

Senate approves final bill

Dec 21

February 2

March 2nd

6 April

President signs

Dec 22

February 3

3 March

April 7

First direct deposits issued

Week of January 4

Week of February 8

Week of March 8

Week of April 12

First paper checks sent

Week of January 11

Week of February 16 (February 15 is President’s Day)

Week of March 15

Week of April 19

First EIP cards shipped

Week of February 8

Week of March 15

Week of April 12

Week of May 10

Direct deposit, EIP card, paper check and you

The IRS sent the first incentive payments on a staggered timeline to different groups of people, depending on how they were paid: by direct deposit, paper check, or EIP card. We dive more into the five stimulus check payment priority groups here.


Source link