The IRS has until Friday to send your $600 stimulus check. What you need to know

In a few days, the IRS and US Treasury won’t be able to send along any more of the second stimulus checks — believe it or not, this is a legal decree that’s part of the language of December’s stimulus bill. So if you qualify for one of the $600 checks (or greater), but didn’t get it yet, there are some things you’re going to want to know. 

That includes why there’s a Jan. 15 deadline for stimulus checks to begin with, what you have to do if you don’t get your stimulus money by the cutoff and how that requirement will set your stimulus check delivery behind. Although the IRS and Treasury made approximately 80% of the payments by the end of last week through direct deposit, paper checks and EIP cards — that still leaves 20% of money waiting to go out this week. (You can also track your stimulus check status here and sign on to a free USPS service that alerts you when your payment arrives to your mailbox.) 

The checks are moving so quickly, in fact, that there’s already been a major blunder (which may be partially resolved), leaving millions of people without their stimulus money. Read on for more details on the second stimulus check payment timeline and how they could affect you. (P.S. Here’s what we know about a $2,000 third stimulus check.) This story recently updated.

Why is there a stimulus check deadline of Jan. 15?

The writers of the legislation didn’t explain why they chose a Jan. 15 cutoff date to send stimulus payments, but that only gave the IRS and Treasury a total of 17 days to send out over 100 million stimulus checks. That’s two days less than the time it took for the IRS to begin sending the first stimulus check after that bill passes in March (it was 19 days, for the record.)

Tax season, which heavily involves both the IRS and Treasury, typically begins in mid-to-late January and continues through April 15, and may be a factor in the Jan. 15 deadline.

If you don’t receive your full second stimulus check money shortly after Jan. 15, you will need to take the extra step of claiming all or part of the missing amount when you file your federal tax returns this year as a Recovery Rebate Credit. You’ll also be able to claim any money the IRS still owes you from the first round of checks as a credit.

Some people who received their stimulus payment through direct deposit have run into problems. If you experience any issue or hold up with any of the three payment methods, it means you’ll have to wait until you file a claim — and take the extra step to do so.

Tying the delivery of a second stimulus check to the 2020 tax return will almost certainly delay the payment for many people, since a wide variance in circumstances will cause some to file taxes as early as January and others as late as April 15, or even later if they need to request an extension. It also isn’t clear how quickly the IRS would process the Recovery Rebate Credit.

Read more: Stimulus check formula decoded: This is why you got what you did.

Direct deposit transfers will soon come to an end

The IRS sent the first direct deposit payments on Dec. 29, saying that the payments will continue through last week. It isn’t clear if the IRS and Treasury will continue processing bank account transfers until Jan. 15. People who have run into issues with direct deposit won’t be able to address them until tax season 2020.

Read more: Just do us a favor and avoid these stimulus scams, OK?

While eligible individuals don’t need to do anything to receive the second payment — providing the IRS already has your banking or mailing information on file — you also can’t do much to influence getting a direct deposit over a mailed check. For example, you can’t register a new direct deposit account with the IRS or correct any banking information you have on file if you closed an account. If the IRS can’t deliver your payment, you’ll need to claim it on your taxes.

Paper checks and EIP cards: Will they all make the deadline?

If the IRS doesn’t have your current direct deposit information on file, it will send the payment as a check or EIP debit card in the mail. Again, it isn’t clear if the IRS has time to process all the tens of millions of payments before Jan. 15. The IRS was able to process between 5 and 7 million a week with the first stimulus check, according to a government report from June.

It may be that some payments won’t make the Jan. 15 deadline. Here’s how you can track your status with the IRS and track your second stimulus check to your mailbox, for free, to set your expectations and to help prevent you from accidentally throwing it away. If you’ve moved recently, tell the IRS and USPS.

Heads up: You could get an EIP card this time instead

The IRS is making 8 million payments through an Economic Impact Payment prepaid debit card, the agency told CNET in an email. That’s twice the number that was sent for the first stimulus check. Even if you got paid with a paper check the first time around, many more people might receive a debit card this time. On the flip side, some people who received a debit card last time may receive a paper check.

The IRS warns that those who are eligible but don’t receive a direct deposit should watch their mail for a check or EIP debit card. The debit cards will arrive in a white envelope that displays the US Department of the Treasury seal, the IRS said.

Two good ways to track your $600 stimulus payment

The IRS has reopened its online Get My Payment tracking tool with information on the second round of payments. With the free-to-use portal, those who qualify for a check can see the status of both the first and second payments. The website is available in English and Spanish. You can also use a free tool from the USPS to follow your check’s movements to your mailbox.

What’s the absolute longest you could wait for your new stimulus check?

People who will receive their second stimulus check in the mail — either as a paper check or a prepaid debit card — should look for a payment anytime from now through Jan. 15. According to the Treasury, 22% of the payments as of last summer were made as paper checks and another 3% as prepaid debit cards. 

After Jan. 15, you will have to claim any money the IRS owes you with your tax filing in 2021. That could further delay your stimulus check, since the timing would depend on:

• When you file your 2020 taxes — the deadline could be April 15, unless you file for an extension.
• How long it takes the IRS to process your tax return, which may also include your second stimulus check.
• If there are any complications that arise in your specific scenario that could further delay your check.

We’ll keep our eye on the situation, which is constantly evolving. Here’s how to calculate your estimated total now for a $600 per person maximum.