Congress voted to pass theMonday night, bringing a on step closer to reality. As soon as President Donald Trump signs the , it will authorize a for tens of millions of people who received the first check. (However, many .)
We have a good idea when. Treasury Secretary Steven Mnuchin says he expects to send the first batch of payments as soon as next week, with to bank accounts before Dec. 31. But just like last time, some people will get their days, weeks and even months after others. It may depend on which IRS payment group you’re in and how fast the IRS can send checks. ( .)
For example, there appears to be a Jan. 15, 2021 cutoff. If you haven’t received your payment by then, you may have to claim your second stimulus check as a . We’ll explain everything we know about how the IRS schedules stimulus check delivery and where you might fit in. This story is frequently updated with the latest information.
First up: People who have direct deposit set up with the IRS
People who have theiron file with the IRS, or who quickly provide that information when and if IRS registration opens it up again, are projected to be in the first group to receive a stimulus check. An electronic transfer of funds is faster and more efficient than mailing a check, which is why this group largely got their first payment faster.
Read more: A? Here’s why .
“The good news is [direct deposit] is a very, very fast way of getting money into the economy. Let me emphasize: People are going to see this money at the beginning of next week” Mnuchin said Monday on a phone call with CNBC.
For the first stimulus check, the IRS took 19 days to build their online tool. On April 15, it sent the first batch of stimulus checks, and in the first week, sent roughly $80 million payments tothrough direct deposit. People were encouraged to continue registering for direct deposit through May 13 as a way to get their checks faster than through the mail. Some did experience or with , but on the whole, this was the speediest method.
Here are ways you can help, including what we know now about .
There are two scenarios for Social Security beneficiaries
With the first stimulus payment, many people who receive Social Security disbursements who also had direct deposit information on file with the federal government received checks in the first week, though not always the first day.
The IRS had a separate informational section for people. Normally, people in these groups receive their federal benefits through a Direct Express card, though people in this group received their stimulus payment through a non-Direct Express bank or a paper check.
Physical stimulus check delivery times can vary
With the first batch of payments, the IRS began to mail checks about a week after people with direct deposit data on file. The US Treasury can process between 5 million and 7 million paper stimulus checks a week in addition to checks for other federal programs, according to a Government Accountability Office report from June.
The IRS and Treasury said they began sending checks to, is less than $20,000, and then moving to people whose AGIs are progressively larger.
The IRS has said it sent 160 million economic impact payments in total with the first check, which means it’s taken months to distribute paper checks to every eligible recipient. In fact, the IRS is wrapping up its distribution this month. Anyone who didn’t get a full or partial payment will.
Are mailed EIP cards last on the list?
are prepaid Visa cards the IRS mailed to about 4 million people starting in mid-May. If the IRS follows the same payment priority order, this group could begin to see their payment start to arrive a month after the first direct deposit transfers take place.
As with paper checks, the IRS would be able to process 5 to 7 million EIP cards a week. The payments arrived in unmarked envelopes, making it difficult for the recipient to identify, but also making it less likely to be stolen through mail fraud. It’s unclear if the IRS would keep the same delivery schedule for EIP cards with a second stimulus check.
People with more complicated situations
This category includes people who received a check after June, still haven’t received their full stimulus payment or who.
Direct payments will conclude at the end of December. Here’s what could befor some people and to report a missing, lost or stolen check. from the IRS, called a Recovery Rebate Credit, in tax season 2021.
What if you didn’t get your full payment from the first check?
It isn’t always clear how much money the IRS might owe you in the event of an error. We suggest starting with ourand this introduction to . If the numbers seem lower than they should be, you might want to investigate further.
See if any of these situations could apply to you: Are you, or ? Are you a tax (including and people who )?
If you’re aand didn’t receive a check as expected, you may also need to read up on the rules. And a new court ruling has made it possible for millions of 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 for.