How soon might the next stimulus check get to you? Here are some possible IRS payment dates

How soon might the next stimulus check get to you? Here are some possible IRS payment dates

If you’re wondering when you might get a second stimulus payment and whether you’ll qualify to receive the proposed maximum amount of $1,200, you’ll need to wait until Washington lawmakers agree on the terms of the next economic relief package.

The trillion dollar question is: how long will qualifying people need to play the waiting game? The HEALS Act — or whatever the final bill is named — has to pass before we get a definitive answer and the IRS can begin coordinating a payment schedule. If lawmakers don’t reach an agreement by Aug. 7, the deadline imposed by Senate Majority Leader Mitch McConnell before the scheduled Senate recess, it could also push back when the checks get sent.

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“We anticipate that we will have a bill, but we’re not there yet,” House Speaker Nancy Pelosi said on Friday, in reference to the Aug. 7 target date.

Though Congress adjourned for the weekend on Friday, Pelosi and Senate Minority Leader Charles Schumer met with Treasury Secretary Steven Mnuchin and White House Chief of Staff Mark Meadows on Saturday. Pelosi said the weekend meeting was “productive in terms of moving us forward,” but the two sides remain apart, CNBC reported.

What does this mean for when you might get another stimulus payment? We took a look at the timeline used to send out the first stimulus check and details about the current plan under negotiation to sketch out a possible answer based on what we know right now. Check back on this story for frequent updates.

When the next IRS stimulus checks could go out

The Senate’s last day in session before its August recess is Aug. 7, which means Congress has to agree on a final stimulus bill before then if it keeps to its planned schedule (which could change). After that, senators return to their home states until the next session picks up again Sept. 8. However, we do know that McConnell has the power to push back the recess and keep senators in Washington longer if needed.

We don’t know how long it’ll take from the time the bill is signed into law to the time the IRS sends checks, but we can glean hints based on the first CARES Act’s journey through the final approval process…Read more>>

Source:-cnet

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