If and when a second stimulus check is authorized, the IRS probably won’t do allin one go, instead priority groups of who would receive the money by , check mailed or .
The rules for qualifying for a second stimulus check may be different from the first stimulus check, which could mean you wouldor be .
Keep reading to learn more about priority groups and what can happen with a second stimulus check.
The 5 Incentive Payment Groups We Know Today
When thepassed in March, it took a few weeks for the IRS to build a tool and procedure to find out who owed a check and for how much. of your household’s total amount, but the check sending schedule may have felt much less conscious.
Because the IRS was under pressure to get stimulus money quickly, the speed at which you received your check often matched the method by which you were paid. Any kind of complication can slow it down. In addition, some calculation errors caused some people who may not see all or part of their assigned share until the middle of 2021.
Direct Deposit Recipients: People who use theirregistered with the IRS or providing that information when and if the registration is reopened, must be first in line to receive a stimulus check. An electronic money transfer is faster and more efficient, which means that this group got their first payment much faster.
Beneficiaries of social securityAt the first incentive payment, many Social Security beneficiaries who had direct deposit information with the federal government received checks in the first week, but not always on the first day.
People who get paper checks: The IRS began sending checks to those with no direct filing information on file about a week later.
EIP card receivers:are prepaid Visa cards that the IRS has sent to about 4 million people as of mid-May. If the IRS follows the same order of payment priority, this group can begin to see their payment weeks after the first direct deposits have been made.
People with more complex situations: This category includes people who received a check after June, are waiting for their incentive payment, or who. Direct payments will continue until the end of 2020 for some individuals who were not part of the previous groups. This is what could be there for some people and to report a missing, lost, or stolen check.
Why the IRS Spreads Its Payment Schedule
There are a few reasons why the IRS doesn’t send all stimulus payments at once. One of them is the sheer number of payouts it has to handle. With the first check, the IRS said it could deliver anywhere from 5 million to 7 million paper incentive checks per week, is less than $ 20,000, and then moving to people whose AGIs are getting bigger, according to the Government Accountability Office.
Another reason why payments are made at different times for different people depends on how they get the money. By the summer, the IRS had sent money to at least 160 million people, as had the federal governmentinformation to get their checks first.
Physical checks andfollowed, creating a de facto order of priority that could result in some Americans receiving their checks days or even weeks earlier than others.
In fact, the last checks of the first round are still being handed out this month, anddue to errors and unclaimed checks will keep coming in in 2021. Some people will even have to do that as part of their 2020 tax return.
The IRS will send the first checks this month
While the majority of people who lined up to receive an incentive check got theirs in late July, through the end of November, there were still millions of people who were eligible for incentive money who had not received it. That includes, Someone who and (including and people who .)
If you have aand did not receive a check as expected, you may also need to research. And a new court ruling has made it possible for millions to get a check even after the IRS changed its rules to exclude this group.
The November 21 deadline to claim payment in 2020 has passed, but you canduring the 2021 tax season.
Depending on which group you’re in, we’ve also mapped out some speculative dates.