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Home / Tips and Tricks / Second stimulus check delay: when it might arrive now and why January 15th is so important

Second stimulus check delay: when it might arrive now and why January 15th is so important



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Time is running out again to issue a second stimulus check for potentially 160 million Americans.

Sarah Tew / CNET

On Monday night one second stimulus check for up to $ 600 per person was almost closed. Now, there is doubt about the $ 900 billion incentive bill that it would contain will pass away. The confused situation began on Tuesday when President Donald Trump objected to the $ 600 ceiling, suggesting he would not sign the completed bill unless it replaced the $ 600 with a second $ 2,000 stimulus check.

The new round of direct payments was already on a tight timeline ahead of Trump’s opposition, with language in the stimulus law requiring the IRS to adhere to a Jan. 15 closing to stop sending payments. The tens of millions of people who don’t second stimulus control three weeks after the IRS started sending them, they could still claim them another way (more on that below).

So what is happening now? We are monitoring the situation carefully. If the bill is passed, but later than expected, that three week period would shrink and more people would have to wait longer to get their second stimulus controls – unless an additional change would be made to the language of the bill. We have mapped out what we now know and can guess. Plus, here’s how calculate your possible stimulus check payment and what we know about one third stimulus check in 2021 (Yes really). This story is often updated with new information.

Now when could the IRS start sending the new payment?

If Trump gives in and signs the new stimulus bill into law before Dec. 28 – the cut-off for the cessation of government funding – the IRS and the Treasury Department could send the first set of payments via direct deposit as early as next week, compared to the 19 days needed to set up the online tools and plan the distribution of the first stimulus check.

Monday, Mnuchin said the IRS could quickly send money straight to people’s bank accounts: “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. “

“Most of these will be direct deposits. We call them ‘postal checks’, but most will be direct deposits‘Mnuchin said.’ 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. ”


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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 28th

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

What does the cut-off point of the second stimulus check of January 15, 2021 mean again?

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.

What about those who would receive their payments 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. You must do that after January 15th claim all the money the IRS owes you with your 2021 tax return.


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