قالب وردپرس درنا توس
Home / Tips and Tricks / Second stimulus checks for $ 600 are on the way. Which payment group are you in?

Second stimulus checks for $ 600 are on the way. Which payment group are you in?



002-money-cash-dollar-bills-hundreds-spotlight-black-background-money-clip-stimulus-check-bill-savings-poverty-hope

Will you be first in line for a stimulus check – or last?

Angela Lang / CNET

People are eligible across the country already started receiving the second stimulus controls of $ 600. The IRS began cashing out payments Tuesday night – the agency posted a confirmation of the details on its website, including that the IRS should reopen the Get My Payment portal later this week so you can check the status of your check first and second payments.

Although the IRS will send the first payments this week, not everyone who qualifies will receive one right away. Where the IRS puts you in the payment schedule can give you a sense of whether or not you’ll be one of the first to get one second stimulus control, or towards the end. (This is why some people may not get a check at all.)

Right after President Donald Trump signed a COVID-19 bill that includes one second stimulus control for maximum $ 600 per adult and qualified dependent children, he began pressuring 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.

Whether the Senate approves the larger amount or not, the stimulus payments are expected to follow a set order, with some people 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 $ 600 second stimulus check calculator.) This story has been updated with new information.

Direct deposit people get their checks first

People who use their direct deposit information registered with the IRS are among 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. Some people have already received their money via direct deposit as of Dec. 29, just days after Trump signed the stimulus bill.

read more: A third stimulus check in 2021? This is why January’s new convention could be key.

With the first stimulus check earlier this year, 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 to eligible recipients by direct deposit. People were encouraged to sign up for direct deposit through May 13 to receive their checks faster than by mail. Some have been there holdups with the tool or with their personal situations. But overall, this was the fastest method.

Here are ways you can help speed up the delivery of your next checkincluding what we now know sign up for direct deposit.


Now playing:
Look at this:

Second stimulus checks: everything you need to know


3:22

There are two main scenarios for social security beneficiaries

On the first stimulus payment, many people who received Social Security benefits who also had direct deposit information registered with the federal government received checks in the first week, although not always the first day.

The IRS had a separate information section for people that receive SSDI and SSI. 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 will come later

With the first batch of payments, the IRS started 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 began sending checks in the mail on 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 claim it early 2021 during tax season. That gives people who sign up for instant deposit a clear benefit.

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 filing their tax return in February would likely receive their stimulus check money – in the form of a Refund Discount – months for people waiting until the April 15 deadline or submitting an extension.

004-cash-money-dollar-banknotes-colorful-background-stimulus-2020

When you get your incentive money it may depend on who you are.

Sarah Tew / CNET

People who received an EIP card were the last to receive their money during the first round of stimulation

Debit cards with economic impact 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 didn’t know they had to go the extra mile. It is not clear what would happen if there was a problem during the process and the Refund Discount was further delayed. It is likely that the IRS would set a different, later deadline to address clerical errors such as missing out on incentive funds and other scenarios.

What if you still 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 our stimulus check calculator and this introduction how the IRS gives your total sum in tabular form. 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 missing the $ 500 allotted for your dependent children, or you pay or receive child support? Are you a taxpayer non-applicant who may be due a stimulus check (including older adults and people who Receive SSI or SSDI)?

If you have a US citizen abroad or resident in US territory and 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 people who are locked up 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 how soon you could possibly get your next stimulus check.


Source link