President Joe Biden and Democratic leaders are eager to get asent out fast — even if they have to do it . While there are still lingering questions about the , Biden has indicated they could come in at , but not without that and .
There’s also now a clear goal for when Biden’scould be signed into law. The calendar is circled for Sunday, March 14, CNN reported, which coincides with the expiration date for benefits like the federal . But that date is still a best-case scenario, as Congress prepares for the starting Feb. 9. Although the trial is expected to move quickly, it could potentially sideline or otherwise push back Biden’s urgent stimulus agenda.
However, even if Biden signs a bill into law on or before March 14, approving a, there would still be a gap between the time the IRS gets the green light to the time it arrives in your hands. Some of that could depend on the way your money arrives. We’ll start with the March 14 timeline and map out some possible dates, plus everything that could complicate the situation — like if your arrives in the middle of the . This story was recently updated.
New stimulus check payment timeline: Best case scenario
We looked at some hypothetical dates that fall within the March 14 timeframe we’ve been hearing about. The chart below highlights a possible timeline for when the next stimulus check could be approved and arrive, based on how quickly the IRS processed and sent out the second stimulus payments.
Note that checks for different payment groups (, and ) may begin to arrive at different times, and it could take weeks for people in a group to all get their funds, so consider these dates a starting point only, and read on for more details. We’ll refresh these dates as the situation changes in Washington.
When could the next stimulus check arrive?
|Stimulus check passes Congress||Friday, March 12|
|Stimulus bill signed into law||Sunday, March 14|
|First direct-deposit check sent||Week of March 22|
|First paper checks sent||Week of March 29|
|First EIP cards sent||Week of April 5|
|Claims for missing stimulus money open||May 3|
How can you find out which payment group you’d be in?
This is an important question.typically get their stimulus checks faster, as evidenced by the first two rounds, however, there have been issues both times that saw deposits going to temporary accounts, which were therefore rejected by the banks.
The IRS told CNET in January that some people who received a physical check orthe first time may get paid by the other method the second time around. And anecdotally, we’ve heard of people who received direct deposit payments the first time finally getting an EIP card in the mail — and not an electronic bank transfer — two weeks after the IRS tool said the payment was issued.
Our recommendation is to make sure you haveas part of your , if you , and attempt to , so you’re set with your most recent financial information.
The other groups that are loosely defined (by us) include social security beneficiaries, who received payments a different way the first time if they’re part of the, and people with more complex scenarios, which could lead to potential . People in have been one example, and so have , as well as those with more .
How quickly could the IRS start sending all the new checks?
In under three weeks, the IRS and Treasury sent roughly 147 million. That was a tremendously . In comparison, it took the IRS 19 days from the date the March 2019 stimulus bill passed to the day the first check was issued.
Conversely, the Dec. 27 stimulus package gave the IRS just 17 days total, including weekends, to legally send out the payments, and some people have reported that they received their EIP cards two weeks after the date the. (If you didn’t get yours, you have to .)
There was oneas a result of the IRS’ rush to get payments delivered, and people who didn’t get their payment may now have to . But the scenario suggests that if the protocols are in place, the IRS could theoretically ship out third stimulus checks 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 a week with the first stimulus check, according to a government report from June.
Could tax season impact a new stimulus payment?
This is a great question, and one we repeatedly ask ourselves: How the IRS and Treasury would handle a. Some of that could very well depend on timing.
Let’s say that a stimulus bill were to pass both chambers of Congress before March. 14, a month after the IRS begins processing the first. Would they send a separate check or attempt to bundle them in with the Recovery Rebate Credit for missing money from the first two checks? Either way, the IRS would have very little time or available resources to process the third checks, or change their protocol to wrap the second into taxes.
If a bill passes March 14, it would still overlap with tax season by a month, before the April 15 tax deadline.
By that time, tens of millions of Americans may have already received their tax refunds, which could make it tricky for the IRS to straighten out or redact after issuing. Things could get complex whether the IRS would attempt to fold a third check delivery into the remaining tax cycle, or send a payment separately.
How can I get the next check faster?
There may be, assuming it happens. For example, signing up for in your 2020 tax return would put you in the priority category for a third stimulus payment.
And if you’ve. Here are our other suggestions for people to . Note that, there could be some that may not apply to a possible third stimulus check.
Would the stimulus bill include another deadline for the IRS to deliver the money?
The Jan. 15 deadline set for the second stimulus check was written into the text of the bill without explanation. It isn’t immediately clear if the bill text would adopt another cutoff in the future, or if that was a one-time consideration that took into account the IRS’ overlapping duties to process stimulus checks and prepare for. Last year, the .
The two overlap with the second stimulus check in that anyone who didn’t receive all or part of their second payment must claim it as part of the IRS’— even if they have .
A third stimulus payment seems likely now, but is it guaranteed?
A bill that includes a stimulus payment isn’t a done deal until it’s signed into law. That said, Biden appears to be bent on driving forward a $1,400 check as part of his, and Democrats in Congress have paved the way to push a bill through Republican opposition .