Timing is essential to deliver a second raise check to 160 million 'Americans.
Sarah Tew /Tuesday, l 'IRS started sending second stimulus test directly to bank accounts by direct deposit and Wednesday by mail in the form of paper checks of prepaid debit cards. Some eligible are already reporting they 'received the money in their bank accounts.
The Treasury Department and IRS began making payments less than two days after President Donald Trump authorized second direct payments on Sunday for up to $ 600 per person when he signed the COVID-19 Relief Bill .
On Twitter, Treasury Secretary Steven Mnuchin confirmed the direct deposit schedule . " These payments may start arriving to some direct deposit accounts as early as [Tuesday] and will continue into next week, " Mnuchin tweeted Tuesday afternoon . In a second tweet, Mnuchin said IRS will start mailing EIP checks and debit cards on Wednesday. IRS has a tight schedule for making payments and must close sending stimulus checks in January .
(We have a stimulus control calculator that you canez use to get a estimate of your stimulus payment . If you are curious, here is what might happen with a third stimulus check in 2021 .)
If you qualify for a payout, here's when you should start looking for a second check reminder, and how you can check the status of your second payment. This story was recently updated.
Direct deposit payments start arriving in the bank account Tuesday evening
On Tuesday, the IRS announced that it had commyet to make its initial payments by direct deposit to bank accounts, with payments continuing into the next week. The IRS has said that eligible people do not need to take any action to receive this second payment and that it will use the direct deposit information it has to make the payment.
The IRS has warned that some "may view direct deposit payments as pending payments or as interim payments in their accounts before the official payment date of January 4, 2021. "
Stimulus checks and debit cards were mailed starting Wednesday
The IRS said that for those for whom it does not have contact information current direct deposit, it will send payment as a check or EIP debit card in the mail. These payments began on Wednesday, Dec. 30, the IRS said.
How to Check the Status of Your Stimulus Payment
The IRS said it is updating its Get my payment for the second cycle of payments and predicts that those who qualify for a check will be able to see the status of the first and second payment within days, after updating the portal. The Get My The payment portal is available in English and Spanish.
What about prepaid debit cards?
The IRS has stated that to speed up the delivery of payments, it will send out some payments.ents using a section Economical impact prepaid debit card and note that some people who received a paper check last time might receive a debit card this time, and some people who received a debit card last time may receive a paper check.
The IRS warns that those who are eligible but do not receive direct deposit should monitor their mail for an EIP check or debit card. Debit cards will arrive in a white envelope that displays the seal of the US Department of the Treasury, the IRS said.
Why is January 15, 2021 an important date to know?
January 15, 2021 15 is the deadline in the data component Reminder invoice from900 billion dollars ; after mid-January, the IRS and the US Treasury must stop sending payments. If you do not receive your complete data second stimulus check by On January 15, you will need to claim all or part of the missing amount to which you are entitled when you file your federal income tax returns in 2021 through the Recovery rebate credit . You will also be able to claim the money that the IRS will give you. still owed on the first round of payments.
People who receive their stimulus payment through direct deposit are less likely to be affected. But there aree potentially a distinct disadvantage for people who do not configure direct deposit with IRS .
Link the delivering a second stimulus check to the 2020 tax return will almost certainly delay delivery for many people, as a big variance in the circumstances will cause some people to report their taxes as early as January and others as late as April 15, or even later if they need to apply for an extension. It is also not clear how quickly the IRS would process the payments.
The IRS said if Congress approves increase in check amount from $ 600 to $ 2,000 this week, it will issue the bonus amount " as quickly as possible . "
In the table below, we schematize the payment schedule for the second round of checks, plus a screening if Congress approves a third check to relaunch the ' next year , after President-elect Joe Biden sworn in on January 20 .
Possible dates for which a second and third stimulus check could be suppressed
| | Dates of the second check | Dates of the third check, if any? |
|---|---|---|
| The House adopts the final bill | December 21 | April 5 |
| Senate adopts final bill | December 21 | April 6 |
| President sign | December 27, | April 7 |
| First direct deposits issued | December 29, | Week of April 12 |
| First paper checks sent | December 30, | Week of April 12 |
| First cards EIP sent | December 30th | Week of April 12th |
| Retrieval the rebate credit | After filing the 2020 tax returns | Unknown |
How long could it take to get your second stimulus check in the mail?
Since the new stimulus bill sets the January 15 deadline for the IRS to send payments, people who will receive their second stimulus check in the email - eitheras a paper check, or as target prepaid debit card - - should seek payment now in the first weeks of January, according to the IRS. According to the Treasury, 22% of payments last summer were made by paper checks and 3% by prepaid debit cards .
However, after January 15th, you will need claim any amount the IRS owes you with your 2021 tax return . This could further delay your dunning check, as the timing would depend on:
- When you file your 2020 taxes - the deadline could bee April 15, unless you request an extension. >
- How long does it take for the IRS to process your tax return, which may also include your second stimulus check.
- If there are any complications that arise in your specific scenario that could further delay your verification.
We will keep an eye on the situation, which is constantly evolving. Here are the latest updates from second stimulus check and here's how you can calculate your current estimated total to a maximum of $ 600 per person .
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