The date you could getif you is now totally in question after President Donald Trump abruptly until after the early Tuesday. And then seemed to restart them later the same day.
“If I am sent a Stand Alone Bill for Stimulus Checks ($1,200), they will go out to our great people IMMEDIATELY. I am ready to sign right now. Are you listening Nancy,” the president’s account tweeted, referring to House Speaker Nancy Pelosi, in addition to other congressional leaders.
The overdoing it” when it comes to injecting cash into the economy.is widely regarded as necessary to help combat the economic effects of the virus. Hours before Trump’s first announcement Tuesday morning, Federal Reserve Chairman Jerome Powell said there’s little risk of “
The president disagreed Tuesday afternoon. “I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major Stimulus Bill that focuses on hardworking Americans and Small Business,” Trump, who has tweeted. Trump continues to receive .,
Trump’s bombshell delays the timeline to pass legislation for a new relief package that includes a(see our timeline chart below.) We’ve been tracking the soonest you could get a new stimulus check and have adjusted our calendar to reflect some realistic dates a deal will be made and how fast the IRS could send a new stimulus check when and if a new package is eventually set in motion.
This story was updated recently.
When the IRS could send the first checks now: 4 scenarios
When and if another stimulus check happens, Treasury Secretary Steven Mnuchin has said it would take about a week to process the first payments. “I can get out 50 million payments really quickly. A lot of it into people’s direct accounts,” he said in August.
We’ve speculated about the potential dates based on the current situation in Washington. Note that not everyone will get a payment at the same time. Keep reading to see how the different priority groups shake out if a bill becomes law following the Nov. 3 election or after Inauguration Day on Jan. 20, 2021.
Possible dates a second stimulus check could go out
|Scenario 1||Scenario 2||Scenario 3||Scenario 4|
|House passes final bill||Nov. 9||Nov. 23||Dec. 7||Jan. 22|
|Senate passes final bill||Nov. 10||Nov. 30||Dec. 8||Jan. 23|
|President signs||Nov. 11||Dec. 1||Dec. 9||Jan. 24|
|First direct deposits sent||Week of Nov. 23||Week of Dec. 14||Week of Dec. 21||Week of Feb. 1|
|First paper checks sent||Week of Dec. 7||Week of Dec. 21||Week of Jan. 4||Week of Feb. 8|
|First EIP cards sent||Week of Dec. 28||Week of Jan. 5||Week of Feb. 1||Week of Mar. 8|
Why some people could get their checks before others
The IRS has so far sent money to at least 160 million people three different ways, starting with people who filed for direct deposit. Some people with more complicated scenarios are or even for . This gives a de facto priority order that could lead some to receive their checks days or even weeks sooner than others. We expect the IRS would adopt roughly the same system for sending out the second stimulus check.
Direct deposit is fastest: People who already have theiron file with the IRS or who register it when and if registration opens again should be first in line to receive their stimulus check. An electronic transfer of funds is faster and more efficient, which is why this group largely got their first payment faster.
Social Security beneficiaries: With the first stimulus payment, many Social Security beneficiaries who had direct deposit information on file with the federal government received checks in the first week, though not always the first day.
People who get paper checks: The IRS began to mail these about a week later to people without direct deposit data on file.
EIP card recipients:are prepaid Visa cards that the IRS sent to around 4 million people starting in mid-May. If the IRS follows the same payment priority order, this group could begin to see their checks weeks after the first direct deposit transfers go out.
Last group: People who received checks after June are still waiting to receive their stimulus payment or. Direct payments will continue through the end of 2020 for some individuals who weren’t part of the previous groups. Here’s what could be for some and to report a missing, lost or stolen check.
What’s the longest you might have to wait for your check?
While we expect most people to get their money sooner, if the first round is any indication, it could still take months for the IRS to send all the checks. Six months after the first stimulus payments went out, the federal agency is still trying towho may be owed money.
And even with the experience of processing roughly 160 million payments in the IRS’ back pocket, some people would probably need to clear a few hurdles to receive their money..
A few more resources to help out
If you’re still waiting on the first round of payments, you can, learn and find possible .
And here are resources aboutand , , and , and how to .