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, or towards the end. (This is why some people .)
Right after President Donald Trumpthat includes one for maximum and , 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.) This story has been updated with new information.
Direct deposit people get their checks first
People who use theirregistered 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? This is why .
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 toby 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 or with . But overall, this was the fastest method.
Here are ways you can helpincluding what we now know .
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. 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. 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 filing 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 receive their money during the first round of stimulation
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 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 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.