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Home / Tips and Tricks / Stimulus Payments Start Arriving ‘Tonight’: When the IRS will send your second check

Stimulus Payments Start Arriving ‘Tonight’: When the IRS will send your second check



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

Sarah Tew / CNET

Starting tonight, those who set up a direct deposit with the IRS can seek their second stimulus payments, Treasury Secretary Steven Mnuchin said. “These payments may come into some accounts by direct deposit as early as tonight and will continue until next week,” Mnuchin tweeted Tuesday afternoon.

Mnuchin said the checks sent by post will start going out Wednesday.

President Donald Trump has signed the new COVID-19 emergency that includes one second stimulus control in front of up to $ 600 per person on Sunday, and the IRS is on a tight schedule send out this new round of direct paymentsfollow rules that may cause some people to wait weeks or even months to get paid.

The IRS and the US Treasury planned to send the second stimulus payments to those who qualify within one week of the invoice being signed – first through direct deposit, followed by paper checks and EIP cards, Treasury Secretary Steven Mnuchin said. (We’ve created a calculator to create a personalized estimate for your incentive payment, and here’s what can happen with one third stimulus check in 2021.)

This is when you should start looking for a second stimulus check, and what you can do to check the status of your payment. This story was recently updated.

Instant deposits will start arriving Tuesday evening

On Tuesday, the IRS said, “The first direct deposits may come in tonight for some and will continue until next week.” The IRS said that eligible persons do not need to take any action to receive this second payment, and the IRS will use the direct deposit information on file to make the payment.

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

Stimulus will check in the mail from Wednesday

The IRS said for those without current direct deposit information registered with the government, the IRS will mail the payment as a check or debit card. Those payments will be sent starting 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 receive checks to be able to check the status of both the first and second payments within a few days. The Get My Payment portal is available in English and Spanish.

What about prepaid debit cards?

The IRS said in order to speed up the delivery of the payments, it will receive a limited number of payments 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 cards come in a white envelope with the seal of the United States Treasury Department, the IRS said.

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

January 15 is the closing date in the $ 900 billion incentive bill by then, the IRS and the U.S. Treasury should 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 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 via direct deposit are unlikely 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 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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How soon could the IRS deliver my second direct payment?

Now that Trump has admitted and signed the new stimulus bill, the IRS and the Treasury are ready to make the first batch of payments through direct deposit this week, compared to the 19 days it took to set up the online tools and plan the distribution of the first stimulus check.

“Most of these will be direct deposits. We call them ‘postal checks’, but most will be direct deposits‘Mnuchin said on Dec. 21.’ It will be in three weeks. We are committed to getting money into people’s pockets immediately. So that will be in three weeks. ”

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 Jan. 15.

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 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 to receive your second stimulus check 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 look for a payment in the first three weeks of January, Mnuchin said on December 21. According to the Treasury, 22% of payments from last summer were made with paper checks and another 3% with prepaid debit cards.

But after January 15 you will have to claim all the money the IRS owes you with your 2021 tax return. That could delay your stimulus control further, 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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