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IRS is now sending $ 600 stimulus checks. Here’s when yours will arrive



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Timing is critical to giving a second stimulus check to as many as 160 million Americans.

Sarah Tew / CNET

On Tuesday, the IRS began sending second stimulus controls direct to bank accounts via automatic deposit and on Wednesdays in the mail as paper checks and prepaid debit cards. Some who qualify already report that they have received the money in their bank accounts.

The Treasury Department and the IRS began making the payments less than two days after President Donald Trump authorized the second direct payments of up to $ 600 per person on Sunday when he COVID-19 emergency.

On Twitter, Treasury Secretary Steven Mnuchin confirmed the direct deposits schedule. “These payments can already enter some accounts by direct deposit [Tuesday] and will continue into next week, “Mnuchin tweeted Tuesday afternoon. In a second tweet, Mnuchin said the IRS would start mailing checks and EIP debit cards on Wednesday. The IRS has a tight schedule for making payments and sending incentive checks in January. .

(We have a stimulus check calculator you can use to create a personalized estimate for your incentive payment. If you’re curious, here’s what can happen with one third stimulus check in 2021.)

If you meet the requirements for a payment, look here for a second incentive check and how to check the status of your second payment. This story was recently updated.

Instant deposits will start showing up in the bank account Tuesday evening

On Tuesday, the IRS announced it had begun making its first direct deposits into bank accounts, and payments will continue until next week. The IRS said that eligible persons do not need to take any action to receive this second payment and that they will use the direct deposit information to make the payment.

The IRS warned that some “consider the direct deposits to be pending or provisional payments into their accounts before the official payment date of January 4, 2021.”

Incentive checks and debit cards were issued from Wednesday

The IRS said for those for which it doesn’t have up-to-date direct deposit information, it will take the payment as a check or EIP debit card in the mail. Those payments went out on Wednesday, Dec. 30, the IRS said.

How to check the status of your incentive payment

The IRS said it is updating its Get My Payment tool for the second round of payments and expects those who qualify for a check to see the status of both the first and second payments within a few days after the portal is updated. The Get My Payment portal is available in English and Spanish.

What about prepaid debit cards?

The IRS said to speed up payment delivery, it will send some payments using one Economic impact Payment prepaid debit card and notes that some people who last received a paper check may receive a debit card this time, and some people who last received a debit card may receive a paper check.

The IRS warns that those who qualify but do not receive a direct deposit should check their mail for a check or EIP debit card. The debit cards arrive in a white envelope with the seal of the United States Treasury Department on it, according to the IRS.

Why is January 15, 2021 an important date to know?

January 15 is the closing date in the $ 900 billion incentive bill; after mid-January, the IRS and the US Treasury must stop sending payments. If you don’t have your full second stimulus check money before January 15, you must claim all or part of the missing amount for which you are eligible when you file your federal tax return in 2021 through the Refund Discount. You can also claim all the money the IRS still owes you from the first round of payments.

People who receive their incentive payment by direct deposit are less likely to be affected. But there is potentially an obvious downside for people who do did not file a direct deposit with the IRS.

Tying of the delivery of a second stimulus check Tax returns for 2020 will almost certainly delay delivery for many people, as wide variation in circumstances will result in some people filing taxes as early as January and others not filing taxes until April 15, or even later if they have to file for a deferment. It’s also not clear how quickly the IRS would process the payments.


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Second stimulus checks: everything you need to know


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The IRS said if Congress approves By increasing the check amount from $ 600 to $ 2,000 this week, the bonus amount will be spent “as soon as possible.”

In the chart below, we map out the payment schedule for the second round of checks, plus a projection if Congress agrees a third stimulus check next year, after President-elect Joe 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 27

April 7

First direct deposits issued

December 29

Week of April 12

First paper checks sent

December 30th

Week of April 12

First EIP cards shipped

December 30th

Week of April 12

Refund Discount

After filing tax returns for 2020

Unknown

How long can it take for your second stimulus check to be received by post?

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 look for a payment starting now through the first weeks of January, according to the IRS. 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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