Trump Pelosi Congress Senate Election IRS Federal Second Stimulus Package Checks
Americans are in dire need for additional federal financial aid as the coronavirus continues to affect the economy. The IRS will likely organize the payment based on the method of receiving the money, as it did with the first stimulus check. With the White House under new leadership, it is uncertain exactly how the second stimulus package will be delivered.
However, we believe we can offer an educated guess on which groups will receive a second stimulus check first.
When Will a New Stimulus Check Arrive?
Our speculative dates may change, depending on whether a bill is passed before or after Inauguration Day. December 11th is the deadline for Congress to pass the next federal budget, so stimulus packages will be discussed by then.
Steven Mnuchin said in August that the first payments could take up to a week to process. While the government has the capability to deposit the money directly into personal accounts, the sheer volume of payment can cause a delay.
What Are the IRS’ Priority Groups?
If the IRS has your direct deposit information and your personal circumstances are uncomplicated, then you will receive a payment as part of the first group. If your circumstances are a little more complicated, then you may receive your check days or weeks after the first round of payments.
It is believed that the IRS will use the same payment method, so you will receive your payment the same way as the first time.
Direct Deposit Recipients
Electronic transfer is much faster than any other payment method. The first group of people to receive payments are those who:
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- The IRS already has direct deposit information on file
- Register their direct deposit information when registration opens
Social Security Beneficiaries
Many people who receive Social Security already have their direct deposit information on file with the IRS. During the last round of stimulus checks, Social Security Beneficiaries got their payments in the first week.
Paper Checks
About a week after the direct deposits went out, the IRS began to mail paper checks to anyone without information on file.
EIP Card Recipients
Some people received prepaid Visa cards during the first round of stimulus payments. During the first round, EIP card recipients did not receive their cards until mid-May, so it is expected to take weeks in the second round too.
People With More Complex Situations
Some people did not receive a check until June or even later. Many of these people missed a step in their application or had other circumstances which delayed the payment. Check with the IRS what may have held up your payment and amend it before the next stimulus round.