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New Stimulus Check: 6 Important Things You Need to Know About Making a Second Payment



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What happens to a second stimulus check? We will tell you.

Angela Lang / CNET

Who could blame you if after half a year of chattering about it? new stimulus tests and blocked thin bills and other Suggestions for economic rescueHave you lost the thread of where Washington lawmakers are in a second round of payments?

While negotiations Members of Congress and the White House continued to express the need for greater economic aid to Americans.

In order to reach an agreement, House spokeswoman Nancy Pelosi said she would postpone the planned October 2 hiatus so that members could be in Washington to vote, the Washington Post reported.

“It’s not surprising that we’re doing nothing and leaving town and not really helping the people,” Josh Gottheime, New Jersey representative and co-chair of problem solver Caucus, told Bloomberg TV on Wednesday. “We have to find a way forward. Without it, we absolutely cannot go home.”

The situation can change at any time, but these are the six most important pieces of information about the status of a second direct payment.

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Washington continues to talk about the need for more direct payments.

Angela Lang / CNET

1. There is no new stimulus check yet

The stimulus check is not a matter of course and its fate is currently at that of des overarching stimulus calculationthat has stalled bitter negotiationsor an executive order pointed out by President Donald Trump in early September. Another direct payment is strongly supported by both parties.

“It is very important that we have incentives that help the areas of the economy that need support,” Treasury Secretary Steven Mnuchin said Monday. “I have said [Pelosi] I’m always available to negotiate, no conditions, “he said.






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Next stimulus checks: what to expect




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2. The IRS might send a second check faster than the last time

It took about two and a half weeks to ship to the federal government the first round of stimulus payments to authorized recipients. Mnuchin has said he could send them a lot faster this time once a deal is made.

“I could get 50 million payments very quickly,” Mnuchin said in August, a week after a bill was signed.

3. Qualifications can change

While we believe that a second stimulus check would follow largely the same guidelines as the first, Admission requirements Subject to changes. It could even benefit your family when a new stimulus bill is redefined who counts as a qualifying dependent.

Further information on eligibility:

  • Your Adjusted Gross Income or AGI plays a major role.
  • Individuals who are not required to file taxes – either because they are receiving federal benefits or are below income levels – could also get a check.
  • For the first check, children under the age of 16 counted $ 500 each for the total check, however have not received their own money.
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Less than a quarter of eligible recipients received their payment as a check in the mail.

Sarah Tew / CNET

4. You can already estimate the size of your check

If you are I’m still waiting for your first payment If you’re looking for an estimate of how much a second exam might involve, you can use ours Stimulus Check Calculator to get an idea of ​​how much you, your family, and loved ones could expect, especially if qualifications shift with another stimulus check. Our calculator tool does not save your personal data in any way.

5. How additional stimulus money could arrive

In order to get eligible Americans cash for economic relief as quickly as possible, the IRS and the Treasury Department took a variety of approaches including direct deposits, physical checks, and Prepaid EIP cards. According to the latest figures from the finance department (in June), the nearly 160 million payments are divided as follows:

  • Direct deposit: 75% or 120 million
  • Paper check: 22% or 35 million
  • Prepaid EIP debit card: 3% or 4 million

The IRS continues to push people Set up direct deposit To get payments straight into the bank account, this number could be even higher.

6. The fine print gets complicated quickly

When and when a second stimulus test arrives, the details need to be deciphered. While some situations are straightforward, other complications for you and your loved ones can make it unclear whether you are eligible, how big a check should be and when it comes. There are plenty of marginal cases.

For example:

There is a lot more to know about other government payments during the pandemic. Here’s what you need to know a possible interest rate review by the IRS, the $ 300 unemployment benefit and the administration’s wage tax cut.


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