Incentive Checks: We’ve mapped out some of the dates when your next payment might actually arrive

Prominent voices on both sides of the aisle have called on negotiators for a second stimulus control. But the likelihood of any other payment approved before the end of the year is getting weaker by the day. Instead, it is more likely that a second stimulus check was to arrive in early 2021, despite a chorus of votes that would prefer to include a payment of $ 600 or $ 1,200.

The bottom line is that there is still hope another direct payment that has eluded the Americans since May. There are now a number of them benefits expire this month if Congress does not act quickly, a fact emphasizing the passing of a smaller, short-term law rather than a more wipe pack containing a second stimulus check and more.

With that in mind, we looked at the calendar and mapped out some possible dates when another check could pass with an invoice and move on, based on your certain payment group. The point is to give you an idea of ​​what to expect now, bearing in mind that the date that Congress will approve another stimulus check for any amount is a moving target.

Read on for everything we know now. This story is regularly updated as new information develops in Washington.

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When will Congress vote on a new stimulus law?

The House of Representatives and Senate could vote on more aid by Friday, when an extension to this year’s federal budget expires. Or they can vote until next week, before Christmas. “We can certainly get together and provide this relief before celebrating the Christmas holidays,” Republican Senator Susan Collins said Monday.

However, a stimulus check seems less plausible this year. Republican Senator Mitt Romney reportedly raised the idea of ​​adding another stimulus check to the current bill among other party members, who rejected the higher cost of the funding, The Washington Post reported Tuesday.

Just in case, we show the possibility of a 2020 check in scenario 1 in the chart below.

After President-elect Joe Biden gets inaugurated on January 20, the new administration could try again for a larger bill that could include another outright payment if Congress doesn’t act in 2020. That would mean a check will be issued in February at the earliest. See the table below for possible dates. (Here are separate incentives that Biden could take if there is no incentive bill by inauguration).

read more: How big will your next stimulus check be? Calculate your estimate

How long does it take for the IRS to start sending checks, once approved?

In August, Treasury Secretary Steven Mnuchin said it would take about a week from when another direct payment is approved to when the IRS was able to process the first batch.

“I can get 50 million payments very quickly. A lot of that goes into people’s direct accounts,” Mnuchin said at the time.

If a check doesn’t arrive until 2021, a new Treasury Secretary will arrive – it’s not clear whether a power transfer would delay the sending of money. Biden has elected Janet Yellen, the previous chairman of the US Federal Reserve, for the position of the Treasury, although she must be confirmed by the Senate before taking office.

Even if the checks would go out faster the second time by following the existing IRS protocol from the first payment, it doesn’t necessarily mean your incentive money would come in a week after an account went live. The next section explains more.

On what date can I expect my second stimulus check?

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 incentive payments into three main groups, depending on the form in which you received the money.

In the chart below, these speculative dates show when you might see a payment. The second scenario is possible if the House and Senate are recalled to vote and the session is officially extended. We’ve also outlined two timelines if a bill after Biden becomes law becomes president January 20 to give you an idea of ​​how long to wait.

Direct deposit, EIP card, paper check and you

The IRS sent the first incentive payment 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.