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The third stimulus check should take place sooner than later. This is what we know today



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The IRS hasn’t finished paying out the second stimulus check yet, but a third payment is already on the agenda.

Sarah Tew / CNET

When could President elect Joe Biden’s suggested $ 1.9 trillion stimulus package (or whatever it eventually becomes) pass, and when can it be the third stimulus check, which Biden has suggested for up to $ 1,400 per qualified adult? The answers became a little clearer on Tuesday, after the senate majority candidate leader reaffirmed his agenda for the new senate.

“In the coming weeks, the Senate must accomplish three essential things: A. second impeachment trial against Donald Trump. The confirmation of the cabinet of President Biden and other key officials. And legislation to provide much-needed, almost-much-needed COVID assistance, ”Schumer said from the Senate.

There’s quite a bit we can glean from Schumer’s statement, whispers in Washington, and what we know about how the IRS first and second stimulus controls that can help us anticipate what might happen to the next incentive payment, and when. (Here’s everything you need to know incentive checks and your taxes for 2020, the most important facts to keep in mind and how to contact the IRS if you think you are missing some or all of your first two payments.) Updated this story with new information.

Will Congress approve a third stimulus check in February or March?

Right now, Biden’s incentive proposal is just that – a framework. It will have to be converted into law, with all the legal language that could come under extraordinarily scrutiny and debate. We know that the first 10 days of Biden will focus on a series of executive actions. Biden cannot send incentive checks on executive order.

According to a newsletter from Punchbowl News, a Capitol Hill-based publication founded in January by former Politico journalists:

House Democrats are telling us now want to fit Joe BidenCovid’s massive aid package in late February or early March, according to multiple sources involved in the effort. “

Part of the equation is how long a debate within Congress can last. After more than seven months, heated and sometimes bitter negotiations between Democrats and Republicans December’s Incentive Act, it’s impossible to know how long it will take for Biden’s stimulus proposal – or any future version of it – to be put to the test to become a bill, and to put that bill to the vote in the House of Representatives and become Senate and law.

With the slim of the Democrats margin of control over both chambers in CongressBiden may have an advantage if his goals are approved, although opposition has already been pronounced from members of his own party on the Maximum of $ 1,400 per person, with some pushing for $ 2,000 per person and at least one other wondering why Americans need a third check.


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Second stimulus checks: everything you need to know


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How soon could the IRS start sending the third stimulus controls?

In less than three weeks, the IRS and the Treasury sent over $ 100 million second stimulus controls. With the second check, there was a very quick turnaround. For example, it took the IRS 19 days from the date the March 2019 stimulus bill was passed to the day the first check was issued. Conversely, the Dec. 27 stimulus package gave the IRS only 17 days in total, including weekends

Now that that payments have entered phase 2 (if you didn’t get yours, you should claim it as part of 2020 tax season), questions already revolve around how the IRS and the Treasury one third stimulus check.

There was one notable direct deposit error due to the IRS ‘rush to deliver payments, and people who haven’t received their payment may need to now wait weeks or months for their second checkups. But the scenario suggests that if the protocols are in place, the IRS could theoretically send third stimulus controls within days and weeks, rather than weeks and months.

As an interesting data point, the IRS was able to process between 5 million and 7 million per week with the first stimulus check, according to a June government report.

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How you receive your second stimulus check can also affect how quickly your payment arrives.

Sarah Tew / CNET

Would a third incentive check use the same IRS pay groups as before?

What are IRS Pay Groups? One way we’ve found that the IRS seems to organize when payments go to certain categories of people based on the payment method.

The main ones are people getting their checks through direct deposit (the largest group and the fastest deliver), by paper checks in the mail and through EIP debit cards, a method the IRS has told CNET makes payments faster than physical checks, but was also the last payment method to leave both stimulus check rounds. It also requires you to activate a prepaid debit card.

The other groups that are loosely defined (by us) include Social Security beneficiaries, who first received payments in a different way if they are part of the SSI or SSDI programs, and people with more complex scenarios, which can lead to potential problems or delays getting their money. people in situations for child benefit have been an example, and so too people who are locked up, and those with more complex citizenship scenarios.

Would the IRS impose a deadline on the third check? Would it have something to do with taxes?

The January 15 deadline that was set for the second stimulus check was written without explanation in the text of the bill. It is not immediately clear whether the bill would have another closure in the future, or if that was a one-time consideration that took into account the IRS’s overlapping tasks of processing and preparing stimulus checks Tax season 2020. Last year, the The tax date of April 15 was extended to July 15.

The two overlap with the second stimulus check that anyone who has not received all or part of their second payment must claim it as part of the IRS ‘ Clawback discount on their tax return – even if they have a non-file status and are usually not required to file taxes.

Let’s hypothetically say that a stimulus bill would be passed in early March and the checks were sent in mid-March, which overlaps with the month before the April 15 tax deadline. By then, tens of millions of Americans have already received their tax refunds, which could make it difficult for the IRS to straighten or redact post-issue. It could get tricky whether the IRS would try to fold a third check into the remaining tax cycle, or send a third check separately.

How can I possibly get a third stimulus check sooner?

While we don’t know when a third stimulus check might come, there are a few things you can do to speed up receipt of your check, when and if it will. For example, you can sign up for direct deposit in your 2020 declaration, you would place in the priority category if a third incentive payment were to come.

And if you recently moved, tell the IRS and USPS. Here were our other suggestions for humans get their second check faster. Note that there may be some changes in qualifications that may not apply to a possible third stimulus check.

Will there be a third stimulus check in error?

Whether or not a third stimulus check will take place and what form it could take is up to Congress. The rest, for now, is the basis of today’s public talks in government, and our educated guesses. There is always a good chance that a bill will pass one room and not the other, or will fail altogether. For now we watch and wait.


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