Earlier this week, President Donald Trumpthat includes one for maximum and , but has pressured Congress to increase those payments to $ 2,000. So far, the House of Representatives has passed a bill that would increase the amount of the second stimulus check to $ 2,000, but the Senate has yet to vote on it.
While the IRS will start sending payments this week, not everyone who qualifies will get one right away. Where the IRS puts you in the payment schedule can give you a sense of whether or not you’ll be among the first to get one, or towards the end. (This is why some people .)
Payments are expected to follow a set order, with some people having a huge advantage over others when it comes to delivery timeline. We explain everything below. (And here’s how to estimate your total with our.) This story has been updated with new information.
People who have set up direct deposit must get their checks first
People who use theirregistered with the IRS will be in the first group to receive a stimulus check. Sending money electronically is faster and more efficient than sending a check, so this group got their first payment much faster.
read more: A? This is why .
“The good news is [direct deposit] is a very, very quick way to get money into the economy. Let me emphasize: people will see this money early next week, ”Treasury Secretary Steven Mnuchin said on December 21.
For the first stimulus check, it took the IRS 19 days to build its online tool. On April 15, it sent the first batch of stimulus checks, and in the first week, it sent about $ 80 million payments toby direct deposit. People were encouraged to continue to register for direct deposit until May 13 to receive their checks faster than by mail. Some have been there or with . But overall, this was the fastest method.
Here are ways you can helpincluding what we now know .
There are two primary scenarios for Social Security beneficiaries
On the first stimulus payment, many people who receive 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. 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 a paper check.
This is why paper checks can experience delivery delays.
With the first batch of payments, the IRS began sending checks about a week after it processed the money for people with bank details 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. This time, the IRS said it will start sending checks in the mail starting Wednesday, December 30.
But there is a catch. Language in the Incentive Act sets a Jan. 15 closing for the IRS to send payments. So anyone who hasn’t received theirs by that date should. That gives people who .
The timing then becomes a matter of how soon you file your taxes for 2020 and how quickly the IRS could process your return. These two scenarios are influenced by different factors. For example, people who file their tax return in February would likely receive their stimulus check money – in the form of a– months for people waiting until the April 15 deadline or submitting an extension.
People who received an EIP card were the last to be paid in the first round of incentives
are prepaid Visa cards that the IRS sent to about 4 million people as of mid-May, one month after the first direct deposits took place.
This time, the IRS expects to ship EIP cards this week.
People with more complex situations are likely to wait the longest
For the first check, this category includes people who received a check after June, have not yet received their full incentive payment, or who. It is not clear what would happen if there was a problem during the process and the was further delayed. It’s likely that the IRS would set a different, later deadline to address clerical errors such as missing out on incentive money and other scenarios.
What happens if you haven’t received the full amount of the first payment?
It’s not always clear how much money the IRS owes you in the event of an error. We recommend starting with ourand this introduction . 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, or ? Are you a taxpayer (including and people who )?
If you have aand did not receive a check as expected, you may also need to read the rules. And a court order has made it possible for millions 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.