قالب وردپرس درنا توس
Home / Tips and Tricks / Second stimulus check: 6 important facts to understand about another payment

Second stimulus check: 6 important facts to understand about another payment



    money-cash-dollar-bills-bank-stimulus-covid-finance-7151

What happens to a second stimulus check? We tell you.

Angela Lang / CNET

It’s a chaotic time. Early voting for November 3 election ongoing in some states, with intense presidential debates to follow. Health experts predict Covid-19 pandemic can intensify during the flu season and now Washington is rushing to its death Supreme Court Ruth Bader Ginsburg and a potential shutdown by the government.

In all this, it is difficult to stay top of the latest developments in Washington to cope with one coronavirus help counting with a second stimulus control. To make it easier, we have identified the six most critical facts to know right now.

Continue reading to learn the most important information to understand about a another direct payment for qualified recipients. We update this story regularly.

money-dollar-bills-cash-stimulus-taxes-covid-coronavirus-america-7079

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

Angela Lang / CNET

A new stimulus control is desired, but not yet here

The second stimulus control has strong two-party support, but is not a clear deal. The talks have now been on hold for over a month. Another payment will only be made if a bill passes Congress or is funded by an executive order, the latter of which suggested in early September.

“It is very important that we have stimulus that helps those areas of the economy that need support,” Finance Minister Steven Mnuchin said on September 14. “I have said [House Speaker Nancy Pelosi] I am available at any time to negotiate, no terms, he said.






Now playing:
Check this out:

Next Stimulus Controls: What to Expect




3:03

2. The IRS can send a second check faster than the first time

It took the IRS and the Treasury Department about two and a half weeks to submit 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.

Qualifications can be tilted in your favor

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:

stimulus-check-in-us-mail-envelope-cash-money-2020012

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 right 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 control counter to get an idea of ​​how much you, your family and your relatives can expect to receive, especially if the qualifications change with another stimulus check. Our calculator tool does not save your personal information in any way.

5. How the IRS sends your stimulus money is important

To get financial relief money out to eligible 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 (in June), this is how the almost 160 million payments are broken down:

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

As the IRS continues to urge people to set up direct deposit to receive payments directly to their bank account, that 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 portal sign up for direct deposit if you have not already done so.

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.


Source link