With so much happening during this uncertain time, it is not easy to keep track of what is happening. Questions like , the threatening and fill the highest court seat left open by competes for the center.
We have identified six important facts to know about whatcan look for , if give a new one . We update this story regularly.
1. We are one step closer to a new stimulus control
The second stimulus control has strong two-party support, but the talks have now been held for over a month. On Thursday, new hope arose in the form of an agreement between Finance Minister Steven Mnuchin and House Speaker Nancy Pelosiwhich may result in financing for a coronavirus bill that includes a second check.
2. The IRS may expedite the process of sending checks
It took the IRS and the Treasury Department about two and a half weeks to submitto eligible recipients. Treasury Secretary Steven 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 can shift in your favor
While we believe that a second stimulus control would largely follow the same guidelines as the first,may change. It may even benefit your family if a new incentive bill redefines it .
Other eligibility remarks:
4. There is a method for who gets their check first
To get financial relief money out as quickly as possible to qualified Americans, the IRS and the Treasury Department took several approaches that included direct deposit, physical checks. According to the latest figures from the Ministry of Finance (in June), this is how the almost 160 million payments are broken down:
- Direct deposit: 75% or 120 million payments
- Paper check: 22% or 35 million payments
- Prepaid EIP debit card: 3% or 4 million payments
As the IRS continues to urge people to set up direct deposit to receive payments directly to their bank account, the number could be even higher. It is expected that you will get your money the fastest with direct deposit, followed by the check and then the EIP card. The IRS automatically selects the payment method, but will likely reopen its portalif you have not already done so.
5. We already think we know how much money you can get
If you areor looking for an estimate of how much a second check may contain, you can use ours to get an idea of how much you, your family and can expect to get, especially if the qualifications change with another stimulus check. Our calculator tool does not save your personal information in any way.
The small print can get complicated, fast
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.
There is much more to know about other government payments during the pandemic. Here’s what you need to know about, den and .