The House of Representatives according to Politico.and is now officially in recess, but negotiations for the that grants continue, with House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin intending to speak through the weekend,
If a deal happens — and there’s now more optimism that it could — it will set in motion a series of decisions and deployments that will help determine how quickly would receive a .
Though the House has departed for recess, it can reconvene any time to vote. What isn’t clear is what role, if any, will play in negotiations and in the Senate’s likelihood of passing a bill. Trump — or — would also need to sign the bill into law before the IRS could create a schedule for delivering a second payment.
If anything, Trump’s illness could highlight how crucial it is for more monetary aid during the. “We will find the middle ground,” Pelosi said Friday on MSNBC.
Understanding that it’s a waiting game that’s grown more complex with Trump’s coronavirus diagnosis, we’ve mapped out four possible timelines for when the IRS could begin to send stimulus payments to different priority groups. These provide an example of possible timeframes, but are purely speculative.can give you a specific monetary estimate. This story is regularly updated.
Examples of IRS timeline to send the first checks — this will change
When and if another stimulus check happens, Mnuchin has said it would take about a week to orchestrate the first payments. “I can get out 50 million payments really quickly. A lot of it into people’s direct accounts,” he said.
We’ve speculated about potential dates based on calendars from the House of Representatives and the Senate, and also based on Pelosi’s vow to keep her chamber in session until a deal is reached. Not every person will get a payment at the same time — keep reading to see how the different priority groups shake out.
Note that, even if an agreement is reached by the end of Friday, it will still take time to hash out the details and draft new legislation to prepare for a vote, first in one chamber (the House, for example) and then in the other.
Possible dates a second stimulus check could go out
|Scenario 1||Scenario 2||Scenario 3||Scenario 4|
|House passes final bill||Oct. 6||Oct. 13 (Oct. 12 is Columbus Day)||Dec. 1||Dec. 7|
|Senate passes final bill||Oct. 7||Oct. 14||Dec. 2||Dec. 8|
|President signs||Oct. 8||Oct. 15||Dec. 3||Dec. 9|
|First direct deposit sent||Week of Oct. 12||Week of Oct. 22||Week of Dec. 7||Week of Dec. 14|
|First paper checks sent||Week of Oct. 19||Week of Nov. 2||Week of Dec. 14||Week of Dec. 21|
|First <span data-shortcode="link" data-asset-type="article" data-uuid="f96f4f0c-3b5b-4e72-94a7-8e630b5b05b0" data-slug="eip-card-what-it-is-and-why-you-might-get-one-if-another-stimulus-check-happens" data-link-text="EIP cards” data-href=”https://www.cnet.com/personal-finance/whats-an-eip-payment-and-could-you-get-one-instead-of-a-stimulus-check/” data-edition=”us” data-shortcode-hash=”596ace3476a44eda91522b04821cad77″ data-shortcode-parser-id=”596ace3476a44eda91522b04821cad77_36″>EIP cards sent||Week of Nov. 9||Week of Nov. 23||Week of Jan. 11||Week of Jan. 18|
Why some people will get their checks faster than 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 in fact or even for . This shakes out into 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 keep 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 check 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 their 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 their 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 were not 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 I could wait for a check?
While we expect the bulk of 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 would probably need to clear a few hurdles to receive their money.for some.
A few more resources to help
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 .