This article was published when the first stimulus checks were deposited in April 2020. Here are additional details on a "targeted" third check and every way you could get more money, less money or no new check at all. The second round of stimulus check payments are likely to come about 10 days after the first round, with the IRS sending payments … Anyone who didn't receive all or part of their second payment must claim it as part of the IRS' Recovery Rebate Credit on their tax return to get the funds owed -- even if they have non-filer status and aren't typically required to file taxes. By mid-March, tens of millions of Americans may have already received their tax refunds, which could make it tricky for the IRS to straighten out problems or redact refunds after issuing. The IRS has already started sending out the second stimulus checks that were part of the new coronavirus stimulus package. If you're owed money, you might have to wait a year to claim it, until you file your 2021 taxes in 2022, according to the latest proposal (PDF) under consideration. There may be a few things you can do to help speed up receipt of a third payment, assuming the stimulus bill is approved. Meanwhile, the IRS said on Monday that the direct deposits could take "several days" to post to individual accounts after the official payment day of January 4. For example, signing up for direct deposit with your 2020 tax return would put you in the priority category for a third stimulus payment. If we act now, decisively, quickly and boldly, we can finally get ahead of this virus," he said. [Updated with latest payment status] With approval of the COVID-19 (Stimulus) Relief bill, Congress has funded another $600 stimulus check for adults ($1200 for a couple) and $600 for Child Dependents. Only individuals earning up to $75,000 would get the full payments, as would married couples with incomes up to $150,000. Go here for more information on the second round of $600 stimulus checks. We mapped out possible dates you could expect the IRS to deliver the first wave of checks, the IRS deadline to send the last payment this time and more. If the bill is passed by March 12, the Friday before extra jobless aid is set to expire, stimulus checks could begin hitting bank accounts anywhere from a few days to a week following that, based on the IRS' time frame for distributing the second round of stimulus checks in December. Here's everything we know right now. A person's income is the chief determinant of whether they'll get a check, as well as the payment amount. The latest proposal (PDF) would give the IRS a Dec. 31, 2021 cutoff to complete sending out the third stimulus checks. The House passed the bill early Saturday, and the legislation will now move on to the Senate. The bill would also boost weekly unemployment benefits from $300 to $400; provide funding for small businesses, schools, and cities and states; offer families with kids a tax break; and boost government spending on COVID-19 testing and contact tracing. If the Senate makes substantial changes on the COVID-19 bill and passes it with amendments, it would go back to the House for another vote. Lawmakers are seeking to pass the bill before March 14, when expanded unemployment aid of $300 per week is set to expire. It doesn't help that the IRS would already have to apply a new stimulus check formula and set of qualifications to follow. You could be weeks away from receiving a new stimulus check. Stimulus checks aren't necessarily a one-size-fits-all situation. Legal Statement. By April 15, 80 million Americans received their stimulus checks via direct deposit. Because the IRS officially started accepting tax returns on February 12 and will close the filing window on its customary date of April 15, the plan could be passed in the middle of tax filing season. By the way, here's every important difference between the $1,400, $600 and $1,200 checks and all the money you could get for child care and older adults. The $1.9 trillion COVID-19 relief package is now on its way to becoming official, after passing the House of Representatives late Friday night. To be sure, disputes or disagreements could still derail the bill. If you filed your income taxes in 2018 or 2019 and provided your direct deposit information to the IRS, your stimulus check could be sent today. ICE Limitations. While you won't have the final say in how you get your payment, we recommend signing up for direct deposit with the IRS when you submit your 2020 tax return, if you ordinarily file taxes. ALL RIGHTS RESERVED. © 2021 CNET, A RED VENTURES COMPANY. Direct deposits and paper checks are arriving soon. Earlier this month, the IRS said it is watching the relief bill to prepare to distribute the next round of payments. We also suggest you try to file your taxes quickly. Using the timeline from the second payment, we can take an educated guess as to when the IRS could start sending the first checks for each group. Here are our guides for: Here's everything you need to know about stimulus checks, including what to do if you ran into problems with either of the first two payments. News provided by The Associated Press. The delivery date for a new payment is fast approaching. Provide most Americans with another direct payment — this time for $1,400. Stimulus vote Friday morning? Johnson & Johnson's COVID vaccine approved by FDA, House passes Biden's $1.9 trillion stimulus package, unusual political maneuver called budget reconciliation, third stimulus check timing to arrive during tax season, every important difference between the $1,400, $600 and $1,200 checks, money you could get for child care and older adults, federal unemployment insurance for $300 a week expires, file an extension to submit your taxes later, Recovery Rebate Credit on their tax return, non-filer status and aren't typically required to file taxes, disqualify some people from getting a third stimulus payment, stimulus check exceptions and catches here, tax extension could also change your timeline, a few things you can do to help speed up receipt of a third payment, Older adults, people who are retired and veterans, everything you need to know about stimulus checks. That's key to returning to normal, Johnson & Johnson's single-dose vaccine is effective, FDA says, CVS booking vaccination slots for 570,000 in 17 states, California Governor Newsom signs $600 stimulus check bill, Sports arenas begin reopening in New York City, What to do if you didn't get a stimulus check, Biden COVID coordinator on increasing vaccinations, "I am the proof that God exists:" Woman beat COVID after 150 days, House Dem calls $15 minimum wage a priority, California Privacy/Information We Collect. Although the loss of the wage increase is a blow to low-income workers, its removal from Senate negotiations could effectively speed up passage of the bill, according to Heights Security analyst Hunter Hammond. ", First published on February 26, 2021 / 5:49 PM. The biggest hitch is a provision in the House measure that would raise the federal minimum wage to $15 an hour by 2025. When could the next stimulus check possibly arrive? Some lawmakers have argued that the checks should be targeted to lower-income families, citing research that shows that higher-income families are rebounding from the pandemic's economic impact. If Get My Payment does not provide a payment date, a payment will not be issued and you may claim the Recovery Rebate Credit, if you’re eligible. Here is the planned weekly schedule … "We can finally get our economy moving again. House passes Joe Biden's COVID relief bill with $1,400 stimulus checks, legislation heads to Senate. In other words, Democrats don't need support from Republican senators to pass the rescue plan. Check your final payment status in Get My Payment. Stimulus check schedule: When you should get yours ... 15 deadline to July 15, but the sooner the government has your 2018-2019 tax information the sooner you can get your payment. If you already have an account, make sure your details are correct. There is no specific date for the release of the stimulus checks and they will not all be released at once. Direct-deposit recipients typically get their stimulus money faster, as evidenced by how the government handled the first two rounds of payments in March and December. This could also disqualify some people from getting a third stimulus payment. A third round of $1,400 checks would allow nearly 23 million adults to pay their expenses for more than four months without going into more debt or eating into their savings, his analysis found. "This decision, while disappointing to progressives, makes the calculus of passing the bill much easier for Democrats," Hammond told investors in research note. But other research signals widespread financial pain throughout the nation, with the ranks of adults experiencing financial hardship last month little changed from December, according to Morning Consult economist John Leer. Copyright © 2021 CBS Interactive Inc. All rights reserved. Democrats, who hold the majority in Congress (by virtue of a Vice President Kamala Harris's tie-breaking vote in the Senate), have set a self-imposed deadline of March 14 to pass the final version of the $1.9 trillion stimulus bill -- this is the date federal unemployment insurance for $300 a week expires. Americans who have direct deposit set up through the Internal Revenue Service could be receiving their stimulus payment as early as Tuesday night. That's why some tax experts are urging taxpayers to file their returns as soon as possible, especially if they had a major life change, such as the birth of a child or the loss of a job or income last year. New stimulus check: Status update, biggest unknowns, potential delivery dates. But both times there were issues involving deposits going to temporary accounts that were rejected by banks. According to the legislation, there is a Jan. 15 deadline for the payments to be issued. If you didn’t get any payments or got less than the full amounts, you may qualify for the Recovery Rebate Credit and must file a 2020 tax return to claim the credit even if you don’t normally file. In that case, a taxpayer might not receive as much stimulus money as they are entitled to. "That third stimulus check is absolutely vital," Credit Karma Chief People Officer Colleen McCreary told CBS MoneyWatch. The US government is preparing to send out direct payments to help individuals amid the coronavirus pandemic, but those who need the … In addition, the issue of priority payment groups means some may check their checks weeks before others, especially if there's a delay of any sort (for example, if you recently moved.). Treasury Secretary Stephen Mnuchin announced Tuesday that the first batch of $600 stimulus checks would be deposited immediately in American’s bank accounts via direct deposit. Payments would decline for incomes above those thresholds, phasing out above $100,000 for individuals and $200,000 for married couples. "We are keeping our eyes closely on the hill," said Ken Corbin, the chief taxpayer experience officer at the IRS, although he didn't forecast when the tax agency could distribute the checks. In fact, a lengthy debate over the $15 minimum wage hike and two more votes in Congress could be part of the roadmap laid out by an unusual political maneuver called budget reconciliation that Democrats are using to push through the bill. If a taxpayer doesn't file their 2020 tax returns before Congress passes its next relief bill, the agency will likely rely on their 2019 tax return to calculate their stimulus check payment — and that 2019 return might not reflect income losses during last year's economic crisis or a new child, for example. / MoneyWatch. A delay to any part of the package could also push back the $1,400 stimulus check by days or weeks. How you get your second stimulus check could influence how soon your payment arrives. Powered and implemented by FactSet. The American Rescue Plan does just that.". What that means for the $1,400 check timeline. Filing for a tax extension could also change your timeline in a way that could be different if the IRS were to extend the tax due date itself (we haven't heard anything more about this). A person's income is the chief determinant of whether they'll get a check, as well as the payment amount. What date can I expect to get the $600 stimulus check? What happens if the timeline slips a week as a result? The second stimulus check follows a rocky rollout this spring for more than 160 million stimulus payments directed by the Coronavirus Aid, … Since a third stimulus check is likely to drop in the middle of tax season (taxes are due April 15), the IRS may have to calculate your total based on the most recent tax filing it has. We need to relieve that suffering. The IRS told CNET in January that some people who received a physical check or EIP card the first time may get paid by the other method the second time around. Individuals earning up to $75,000 would get the full amount as would … Fauci warns against complacency as COVID-19 cases begin to plateau. A second round of stimulus checks have been deposited into more than 100 million bank accounts. Here's what also affects stimulus delivery dates. "They will avoid a difficult battle in the Senate, where two Democratic senators oppose an increase to $15/hour (though at least one of them has said he could support a smaller increase) meaning that the party could have been subject to a brutal internal fight on the topic.". That was largely true with the first two checks (there are always some exceptions) and is expected to play out similarly the third time around. (CBS Detroit) — A third stimulus check, worth $1,400, is currently progressing through Congress as part of the Biden administration’s $1.9 trillion relief package. The legislation provides a third stimulus check that amounts to $1,400 for a single taxpayer, or $2,800 for a married couple that files jointly, plus $1,400 per dependent. Payment for these checks per the IRS is starts on December 30th and will start hitting millions of American’s accounts before the New Year. The $1,400 stimulus checks will be the largest to date when they are eventually signed into law by Biden, ... the American Rescue Plan Act which includes a $1,400 stimulus check direct payment. Stimulus check timeline: Dates when your check could arrive. Stimulus Check Deposit Schedule March 31, 2020 2020 , Stimulus 69 Comments After passing the $2T Economic Stimulus deal, many americans are left asking when they will receive their 2020 Stimulus Check. First direct deposit check sent Week of March 22 Week of March 29 And the people of this country have suffered far too much for too long. Keep in mind, it could take weeks for the IRS to process every group's funds, so consider the possible dates below as just a starting point. The first batch of stimulus checks already have been sent through direct deposit, and maybe you weren’t one of the lucky 80 million people. The payments would amount to $1,400 for a single person or $2,800 for a married couple filing jointly. You must file a 2020 tax return to claim the credit even if you usually don’t file. People in different child support situations are one example we've seen, as are people who are incarcerated and people with complex citizenship scenarios. But that doesn't mean a third stimulus check is speeding toward approval. That would be your 2020 taxes if you file early, or 2019 taxes if the check is ready before your tax return is. In brief remarks after the House vote, Mr. Biden said he hoped for "quick action" from senators on the spending package, dubbed the American Rescue Plan. If you've moved recently, tell the IRS and USPS. The Senate is likely to take up the measure next week, and will need to iron out some wrinkles that have emerged during negotiations. The relief money is included in a $1.9 trillion stimulus bill that has officially been proposed by House Democrats. The IRS organized the first two payment rounds according to payment groups, with direct deposit recipients the first in line, followed by people receiving physical checks and then EIP cards. © 2021 CBS Interactive Inc. All Rights Reserved. Johnson & Johnson's one-shot COVID vaccine approved by FDA, Biden's COVID coordinator on increasing vaccinations, LeVar Burton on the good that television can do, Female McDonald's employees allege abuse, harassment in workplace, Biden admin scrambles to expand housing for migrant children, "We are American, too": Hundreds in New York rally against anti-Asian hate, Another former aide accuses Cuomo of sexual harassment, Dr. Fauci answers COVID vaccine questions in CBSN special, CBS News poll: Many would get vaccine, but hesitancy remains, Do COVID shots prevent infection? The danger of avalanches: Will 2021 be the worst year ever? Market data provided by ICE Data Services. The Senate bill is unlikely to include the increase after the Senate parliamentarian ruled Thursday that the pay hike can't be included in the upper chamber's version of the relief plan. Even after a bill passes, as projected, the third stimulus check timing to arrive during tax season could complicate matters. (Learn more about some of the stimulus check exceptions and catches here.). Editor’s note: Another round of stimulus checks was included in coronavirus relief legislation signed into law on Dec. 27, 2020. While you can file an extension to submit your taxes later (you'd still have to pay taxes owed now) whether that will help or hurt you may get a little complicated. You can find information on the second stimulus check here. Third stimulus check payments worth up to $1,400 per person could be passed soon. That support, as well as backing for the package as a whole, could grow as disparities between economic classes grow. And, anecdotally, we've heard of people who received direct deposit payments the first time finally getting an EIP card in the mail -- and not an electronic bank transfer -- weeks after the IRS tool said the payment was issued. Check your final payment status in Get My Payment. Here's the deal. "We may see some final attempts next week by progressive Democrats to include a wage hike in the current relief bill, but we ultimately do not see these efforts being successful," analysts with investment bank Raymond James wrote in a report. President Joe Biden's $1.9 trillion coronavirus relief plan is moving forward, raising hopes of another round of stimulus checks for most Americans. But Democrats are using a process called budget reconciliation to pass the legislation, which means only a simple majority in the Senate is required for approval, rather than the 60 votes required by most bills to overcome a potential filibuster. First stimulus vote Friday? Beginning the week of April 20, the IRS started making additional rounds of weekly payments by direct deposit to people who provided direct deposit information on IRS.gov.