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New stimulus check: 6 best things you need to know about another payment



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What happens to a second stimulus check?

Angela Lang / CNET

After six months of talking about other stimulus controls and lean bills and other financial rescue proposals, who can blame you for losing the thread about where lawmakers in Washington stand on a second round of payments?

While negotiations has become hot and recently cold, both Democrats and Republicans continue to express the need for more financial aid for Americans.

“We all want an agreement,” Parliament Speaker Nancy Pelosi said on Monday. Pelosi said she will keep the House of Representatives in session until an agreement is reached, the Washington Post reported on Tuesday. (The House is currently scheduled to cancel on October 2 and will not return to Washington until after the November election.)

The situation can change at any time, but these are the six best things to know about the status of a new stimulus control.

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Washington continues to talk about the need for more direct payments.

Angela Lang / CNET

1. There is no new stimulus control yet

Stimulus control is not a matter of course and right now its fate is linked to it overall stimulus bill, which is inserted bitter negotiations, or to an executive order, as President Donald Trump suggested in early September. Another direct payment has strong two-party support.

“It is very important that we have stimulus that helps those areas of the economy that need support,” Finance Minister Steven Mnuchin said on Monday. “I have said it [House Speaker Nancy Pelosi] I am available at any time to negotiate, no conditions, he said.






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2. The IRS was able to send a second check faster than last time

It took the federal government about two and a half weeks to send the first round of incentive payments to eligible recipients. Mnuchin has said he could send them much faster this time, once a deal is inked.

“I was able to get 50 million payments really fast,” and start making payments a week after a bill is signed, Mnuchin said in August.

3. Qualifications are subject to change

While we believe that a second stimulus control would largely follow the same guidelines as the first, eligibility requirements may change. It may even benefit your family if a new incentive bill redefines it which is considered a qualified addict.

Other eligibility remarks:

  • Your adjusted gross income or AGI plays a huge role.
  • People who are not required to file taxes – either because they receive federal benefits or were below the income level for filing – can also get a check.
  • In the first check, children under the age of 16 counted for $ 500 each for the total check, however did not get their own money.
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Less than a quarter of eligible recipients received their payment as a check in the mail.

Sarah Tew / CNET

4. You can estimate the size of your check now

If you are still waiting for your first payment or looking for an estimate of how much a second check may contain, you can use ours stimulus check calculator to get an idea of ​​how much you, your family and your relatives can expect to receive, especially if the qualifications change with a different stimulus check. Our calculator tool does not save your personal information in any way.

5. How more stimulus money can come

To get financial relief money out to qualified Americans as quickly as possible, the IRS and the Treasury Department took several approaches that included direct deposit, physical checks, and prepaid EIP cards. According to the latest figures from the Ministry of Finance (June), the almost 160 million payments are broken up:

  • Direct deposit: 75% or 120 million
  • Paper control: 22% or 35 million
  • Prepaid EIP debit card: 3% or 4 million

The IRS continues to urge people to do so set up direct deposit to receive payments directly to the bank account, that number can be even higher.

The fine print can quickly become complicated

When and if a second stimulus check arrives, the details will require some rewinding. While some situations are simple, other complications about you and your loved ones can make it unclear if you are eligible, the size of a check you can expect and when it will arrive. Striped cases abound.

For example:

There is much more to know about other government payments during the pandemic. Here’s what you need to know about a possible interest rate check from the IRS, den $ 300 federal unemployment benefits and the administration’s payroll tax cut.


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