Also, if you moved to a new address recently, then you must inform the IRS and USPS of the same. In case you haven’t signed up for direct deposit, then you must do so in your 2020 tax return. Still there are a few things that can help you to speed up your stimulus check. So, all this means is that you will be able to get your stimulus payment quickly once Congress approves it. On the other hand, with the second stimulus checks, the agency had just 17 days (including weekends) to process all the payments. This was way better than the first time (under the CARES Act) when the IRS took 19 days (from the time Congress approved the stimulus package) to issue the first payment. At the time of the second stimulus payment, the agency was able to send over 100 million payments in under three weeks. How much time will the IRS take?Īs with the second stimulus checks, the IRS would be quick to send the third stimulus checks as well. Since the US house of Representatives passed the bill yesterday that includes a third round of stimulus payments, I have begun receiving a lot of questions a. In such a case, most people would get the checks before mid-February. This way they would be able to pass the stimulus checks by the first week of February. It is likely that the Biden administration may use the reconciliation process to get the stimulus checks approved. If Congress approves the stimulus checks as a standalone bill, then the timeline could be early next month.
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President Joe Biden proposed a 1. President Joe Biden is urging Congress to approve a 1.9 trillion stimulus bill, which includes stimulus checks of 1,400. AMERICANS struggling financially due to the effects of the coronavirus pandemic are eagerly awaiting for Congress to approve the third relief package. This means millions would get the payment in their bank account before the end of March. Possible timelines for third coronavirus stimulus checks. If the lawmakers approve the package by mid-March, then the IRS could start sending the checks within two to three days. One point that may take the most time during negotiations is deciding the amount for the stimulus checks, whether it would be less than $1,400, or if it would be more targeted.
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This is because the coronavirus stimulus package would need to pass through the usual debate and negotiation process.
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In case the lawmakers approve the third stimulus checks as part of one big package, then a timeline of mid-March seems likely.