Keeps track of the ins and outs of ais not easy, with the situation changing rapidly. So we thought we’d help keep it simple by summarizing the most important things you need to know all in one place. We offer many links to the latest updates if you want to explore more.
The short-short version of where the control is now is this: After more than a month of standstill, there is– even if no calls are scheduled yet. We have been speculating Before .
The situation can change at any time, but these are the six best things to know about the status of a second direct payment.
A new stimulus check has not yet taken place
Stimulus control is not a matter of course and right now its fate is linked to it, which is inserted , or to an executive order, as President Donald Trump suggested in early September, but which has not evolved since. 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 [Pelosi] I am available at any time to negotiate, no conditions, he said.
2. The IRS can send a second check faster than last time
It took the federal government about two and a half weeks to sendto 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,may change. It may even benefit your family if a new incentive bill redefines it .
Other eligibility remarks:
- Your plays a huge role.
- People who are not required to file taxes – either because they receive federal benefits or are 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 .
4. You can already estimate your check size
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 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 additional 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. 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
The IRS continues to urge people to do soto receive payments directly to the bank account, that number can be even higher.
6. The fine print quickly becomes 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.
There is much more to know about other government payments during the pandemic. Here’s what you need to know about, den and .