The IRS will send stimulus checks out by priority groups: Find out which you may be in


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Even as the Nov. 3 election fast approaches, a second stimulus check is still a possibility this year if negotiators can agree to pass new coronavirus relief legislation.

How fast could you get paid if you qualify? The first round of stimulus checks went out to some recipients days, weeks and even months before others. Looking at that first payment for clues, we can outline which groups might receive priority in terms of when the IRS could send out a second stimulus check — and which might get paid last.

For a broader view, make sure you are aware of the most important stimulus payment topics to know. This story updates frequently.

Stimulus check: A timetable for the first group of payments

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When and if another stimulus check gets the green light, Treasury Secretary Steven Mnuchin has said it would take about a week to mobilize the first payments. “I can get out 50 million payments really quickly. A lot of it into people’s direct accounts.”

We’ve speculated potential dates based on calendars from the House of Representatives and the Senate, and also based on a statement from House Speaker Nancy Pelosi, who vowed to keep her chamber in session until a deal is reached.

For reference, we include the timeline for the now-expired CARES Act. The payments don’t go out to everyone at once, so read on for which groups of people could get their stimulus money first.

This is the order in which checks would most likely be sent

It’s likely the IRS would keep roughly the same system for sending out the second stimulus check that it used the first time, including the IRS Get My Payment tool for tracking your stimulus check and registering for direct deposit.

That means the agency might also follow the same order for distributing payments, which led some to receive their checks days or even weeks sooner than others. Some are still waiting for their first checks. Here’s how it went for the checks that were sent starting April 15:

Direct deposit: Roughly 80 million people who filed 2018 or 2019 tax returns and had already provided the IRS with their direct deposit information (according to the House Committee on Ways and Means). May 13 was the cutoff to register for direct deposit……Read More>>

 

Source:- cnet

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