After nine grueling months of stalls and clench-fisted negotiations over the second, it may be hard to believe that a could be weeks away from approval. On Friday, House Speaker Nancy Pelosi said she aims to pass the in two weeks before handing the bill over to the Senate, where the controlling Democratic party plans to . Would the bill beat the previous forecast date of March 14? “Absolutely,” Pelosi said. “Without any question. Before then.”
A speedier timeline means aper person could get out the door quicker, and perhaps with important changes, too. Underpinning the revised timeline is a call to , which would restrict the number of people who would ultimately receive it. That stipulation might exist alongside a new of all ages.
There may, however, still be hurdles and delays. For example, the, which starts Feb. 9, could potentially push back Biden’s stimulus agenda. There will also be the inevitable gap between approval of a and the time it lands in your or . Below, we’ve mapped out possible dates your check could arrive — depending on your payment priority group — and have answers to other important questions, like what happens if your appears in the middle of the . This story is frequently updated.
New stimulus payment schedule: Two possible timelines
“Next week, we will be writing the legislation to create a path to final passage for the Biden American Rescue Plan, so that we can finish our work before the end of February,” Pelosi said Feb. 5, casting a new possible target date range for when Congress may approve a bill, and theto go with it ( ).
We’ve mapped out some hypothetical dates for two situations: if a bill were to pass before the end of February, or by March 14, a date when some. The chart below highlights when the IRS could potentially send the next stimulus check, 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 show up 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 possibly arrive?
|Stimulus check passes Congress||Friday, Feb. 26||Friday, March 12|
|Stimulus bill signed into law||Monday, March 1||Sunday, March 14|
|First direct deposit check sent||Week of March 8||Week of March 22|
|First paper checks sent||Week of March 15||Week of March 29|
|First EIP cards sent||Week of March 22||Week of April 5|
|Claims for missing stimulus money open (after tax season ends)||May 3||May 3|
Which payment group would you be in? That could change
This is an important question.typically get their stimulus checks faster, as evidenced by the first two rounds. But there have been issues both times that saw deposits going to temporary accounts, which were rejected by 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 . We also suggest you attempt to , so you’re set with your most recent financial information.
The other groups 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 different have been one example, and so have , as well as those with .
How quickly could the IRS send out all the new stimulus checks?
In fewer than three weeks from the date thebill passed in December, the IRS and Treasury sent about 147 million payments. That was a tremendously . Back in March, it took the IRS 19 days after the first stimulus bill passed to the first check being issued.
The Dec. 27 stimulus package gave the IRS just 17 days total, including weekends, to legally send out the payments, though some people have reported 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 and 7 million a week with the first stimulus check, according to a government report from June.
Could tax season affect a new stimulus payment? Yes
This is a great question, and it’s part of another question we repeatedly ask ourselves: How would the IRS and Treasury handle a? Some of that could very well depend on timing. For a start, it may be that the third check would rely on your 2019 taxes, not your .
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 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 problems or redact refunds after issuing. Things could get complex whether the IRS attempts to fold a third check delivery into the remaining tax cycle or to send a payment separately.
Is there any way I could get my 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 there be a delivery deadline for the IRS, like last time?
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, 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 determined to drive forward a $1,400 check as part of his, and Democrats in Congress have paved the way to push a bill through Republican opposition .
Here’sin general, including what to do if you have an issue with .