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Stimulus Check 2 Update: How fast can the IRS send a payment? Here are some possibilities

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A second stimulus check is being worked on, but the payment schedule is still unknown. We divide some probable scenarios.

Sarah Tew / CNET

A timeline for when you might get yours next stimulus check is less clear now when talking about another financial relief package are paused. The debate has less to do with a total of $ 1200 upper limit for people who qualify and more about the total size of the package plus extra support. (This is how the current Republican proposal, called the HEALS Act, compares to the previous stimulus proposal.)

If and when Republican and Democratic leaders are willing to come back to the table to reach an agreement – and here is five reasons why we think it might happen – Treasury Secretary Steven Mnuchin has said he can get a new check faster than first stimulus control.

But when could it actually happen? It all depends on when both sides renew serious negotiations. The first hope after comments over the weekend that there could be talks this week seems less certain now, with both sides accusing the other of not wanting to come to the table. If negotiations begin again and an agreement is reached, we have calculated some possible dates for you to get your first check – provided that happens.

This story was recently updated with new information.

How quickly the IRS would deliver the second stimulus check

Several scenarios could be played out. Republicans and Democratic negotiators may enter into discussions and reach an agreement this week, or may enter into next week. Mnuchin said on August 10 that if the two sides could find common ground, they could reach an agreement this week. It looks less and less likely today.

Meanwhile, the House of Representatives has now been postponed to Friday 14 August at 2 pm ET.

Here are some possible first dates that a second stimulus check may pass. As a reference, we also include the timeline for what has now expired CARES Act as reference. And keep reading for who can get their payment first.

When could the second stimulus check expire?

Dates passed by the Senate Date passed by House dated First checks sent

Original CARES Act

March 25th

March 26

March 27

April 15

If the Senate leaves If the house passes If the president signs The first checks could be sent
Negotiated bill

Friday, August 21st

Monday 24 Aug.

Tuesday aug. 25

Wednesday 2 September

August 24th

August 25th

August 26th

The week of September 14

September 8

September 9th

September 10

The week of September 21

Who can get their stimulus control first?

It’s likely that the IRS will use roughly the same calculations and tools to send out the second incentive check as it did for the first, including the IRS Get My Payment tool for track your stimulus check payment and registration to direct deposit.

The IRS sent the first round of stimulus checks to individuals who had filed 2018 or 2019 tax returns and who had already provided the IRS with their direct deposit information, according to the House Committee on Ways and Means. According to that model, the next incentive payment can only reach people who have already registered for direct deposit, either as part of their tax registration in 2019 or earlier.

The next group was social security recipients who had direct deposit information with federal authorities. (Approximately 80 million people received their checks through direct deposit during the first week they were paid according to the IRS.)

Paper checks did not begin to be sent out until about a week later to people who had not registered for direct deposit, but you can still register for the electronic bank transfer as late as May 13th. , which are prepaid, were sent in mid-May to about 4 million people.

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Another check for up to $ 1,200 can find your way to your bank account.

Sarah Tew / CNET

Why your stimulus control may come later than other people’s

We do not know for sure until a new bill has been approved and the IRS is making a plan to send out checks, but here are points to keep in mind.

Changes in support for addiction: This depends on which version of the bill passes. The CARES law awarded $ 500 to relatives aged 16 and under. The Republican-backed HEALS Act also sets aside $ 500 for addicts, of all ages. But the Democrat-backed Hero Act proposes $ 1,200 for a maximum of three addicts. If a change is made, even if it ultimately leads to more money being sent, it may require the IRS to adjust its accounting system. It can potentially slow things down for you.

Bank Status: With the first checks, people who did not submit direct deposit information to the IRS were forced to wait longer to receive the incentive money in the mail. In June, 120 million people received the stimulus money through direct deposit, 35 million via a check in the mail and 4 million via a prepaid debit card. The IRS has not provided an update on how many received a stimulus check by August 1st.

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Bank status has affected the rate of payment since the CARES law was passed, which disproportionately affects black Americans and colors, according to an analysis (PDF) from the think tank Urban Institute. People who are white and whose incomes were above the poverty line were more likely to have their first stimulus check at the end of May than people who are black, Hispanic or below the poverty line, the analysis found.

People who did not earn enough money to file federal income returns in 2018 or 2019 would also not receive a stimulus check if they did not submit a form to the IRS, according to a report from the Center for Budget and Policy Priorities. This group includes families with children with low incomes and a much larger number of black people and colors.

When is the last date you would receive the new stimulus check?

Again, the schedule for the first stimulus checks may provide a potential roadmap, but there is no official news until another rescue package is ready.

The IRS will have sent approximately 200 million checks when the agency finishes distributing the first payment. (The total U.S. population is over 330 million people, according to the Census Bureau.)

The majority of them were sent in early June, although the IRS said it will continue to send payments until the end of the year.

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American workers are experiencing astonishingly high unemployment.

Angela Lang / CNET

How to get more help

If you are still waiting for the first round of coronavirus payments, you can do so track the status of your stimulus check, learn how to report your no-show check to the IRS and find possible reasons why your stimulus check has still not arrived.

Here are even more resources about Corona Virus difficulties and unemployment insurance, what you can do if you have lost your job, what to know about drafts and late car payments, if you can get two refund checks from the IRS and how to do Take control of your budget.

Julie Snyder and Shelby Brown contributed to this report.

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