After thewas authorized , the IRS took the pool of and divided everyone into different priority groups, sending payments over the course of a few weeks and even months. Some people . A is expected to be worth as much as (and ) and the IRS could employ a similar priority group system when it comes time to distribute the payment, whenever that takes place.
The timeline to reach. Negotiators — but its chances are fading that the bill will become law before the , which is eight days away.
“I never give up hope. I’m optimistic,” House Speaker Nancy Pelosi told CNN on Sunday. Pelosi and Treasury Secretary Steven Mnuchin are slated to speak on Monday about the bill, though the Senate is set to go on recess Monday night until after the election.
Below, we sketch four possible timelines for when a second stimulus check could go out, and explain how those priority groups work. This story frequently updates as news develops.
How can the IRS can send your check? Depends on who you are
Treasury Secretary Steven Mnuchin has said it would take about a week to process the first payments, when and if another stimulus check is signed into law. “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 as to some potential dates if a bill becomes law after the Nov. 3 election and before or after Inauguration Day on Jan. 20, based on current negotiations in Washington. Keep reading for more information.
Possible dates a second stimulus check could go out
|Scenario 1||Scenario 2||Scenario 3||Scenario 4|
|House passes final bill||Nov. 6||Nov. 23||Dec. 7||Feb. 1|
|Senate passes final bill||Nov. 9||Nov. 30||Dec. 8||Feb. 2|
|President signs||Nov. 10||Dec. 1||Dec. 9||Feb. 3|
|First direct deposits issued||Week of Nov. 30||Week of Dec. 14||Week of Dec. 21||Week of Feb. 8|
|First paper checks sent||Week of Dec. 14||Week of Dec. 21||Week of Jan. 4||Week of Feb. 15|
|First EIP cards sent||Week of Dec. 28||Week of Jan. 5||Week of Feb. 1||Week of Mar. 15|
What are the IRS’ payment priority groups?
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 personal situations areor even for . This creates a de facto priority order that could lead some Americans to receive their checks days or even weeks before others. We expect the IRS will adopt roughly the same system for sending out a second stimulus check in 2020 as it did with the first stimulus check, which was approved in March.
Direct deposit recipients: People who already have theiron file with the IRS or who provide that info when and if registration opens again should be first in line to receive a 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 checks about a week later to those without direct deposit data on file.
EIP card recipients:are prepaid Visa cards the IRS sent to about 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.
People with more complex situations: This category includes people who received a check 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.
When’s the last day my stimulus check would come?
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.
In some cases, people will need to wait until they receive a tax refund in 2021, especially for catch-up payments and error adjustments. Some examples include, including some people who . There are also non-filers who may be owed a stimulus check, including or people who .
If you’re aand didn’t receive a check as expected, you may also need to investigate. And a new ruling in California may bring hope for the families of people who are incarcerated and didn’t receive the first stimulus check, or who received it and were compelled to return the 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..
Where can I get more help while I wait?
If you’re still waiting on the first round of payments, you can, learn and find possible .
And here are resources aboutand , , and , if you could receive and how to .