Stimulus check 2 update: How fast the IRS can send a payment to you if Congress reaches a deal
If negotiators are able to come to an agreement, the White House has a plan to prep your second direct payment faster than the first check. We worked out some potential dates of when this might happen.
"Let's get this assistance directly to the people who need it," Senate Majority Leader Mitch McConnell told Fox News Tuesday regarding the package.
In remarks on the Senate floor Tuesday, Senate Minority Leader Chuck Schumer said that the Democrats are willing to compromise, but Republicans are being intransigent.
Sniping aside, both sides have signaled they're open to renewing negotiations, although no discussion appears to have yet been scheduled. With federal protections such as enhanced jobless benefits having lapsed, the two sides are under pressure to reach agreement on a new package.
Here's who we think might be first in line to get the new stimulus check, and how soon the new payments could go out. And here's how the current proposal compares to the previous stimulus bill. This story is updated frequently.
How soon the IRS would deliver the second stimulus checks
Several scenarios could play out. Republicans and Democratic negotiators could pick discussions back up and reach an agreement this week, or that could slide into next week. Treasury Secretary Steven Mnuchin said Aug. 10 that if the two sides could find common ground, they could reach an agreement this week.
Meanwhile, the House of Representatives is now adjourned until Friday, Aug. 14 at 2 p.m. ET, though it could possibly be called back into session if an agreement is made on the coronavirus relief bill before then.
We calculated some possible first dates that a second stimulus check could pass. For reference, we also include the timeline for the now expired CARES Act as a point of reference. And keep reading for who could get their payment first.
WHEN COULD THE SECOND STIMULUS CHECKS GO OUT?
Date passed by Senate
Date passed by House
Date signed
First checks sent
Original CARES Act
March 25
March 26
March 27
April 15
If Senate passes
If House passes
If President signs
First checks could be sent
Final negotiated bill
Aug. 17
Aug. 18
Aug. 19
Week of Aug. 31
Aug. 24
Aug. 25
Aug. 26
Week of Sept. 14
Sept. 8
Sept. 9
Sept. 10
Week of Sept. 21
Who would get their stimulus check first?
It's likely the IRS would use roughly the same calculations and tools for sending out the second stimulus check as it did for the first one, including the IRS Get My Payment tool for tracking your stimulus check payment and signing up for direct deposit.
The IRS sent the first batch of stimulus checks to people who had 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. Following that model, the next stimulus payment could first reach people who have already registered for direct deposit, either as part of their 2019 tax filing or before.
The next group were Social Security beneficiaries who had direct deposit information on file with federal agencies. (About 80 million people got their checks through direct deposit in the first week they were disbursed, according to the IRS.)
Paper checks didn't start getting mailed out until about a week later, to people who hadn't signed up for direct deposit, but you could still register for the electronic bank transfer as late as May 13. The first Economic Impact Payment debit cards, which are prepaid, were sent in mid-May to about 4 million people.
Another check for up to $1,200 could find its way into your bank account.
Sarah Tew/CNET
Why your stimulus check might arrive later than other people's
We won't know for sure until a new bill is passed and the IRS forms a plan to send out checks, but here are points to consider.
Changes to aid for dependents: This depends on which version of the bill passes. The CARES Act allotted $500 for dependents age 16 and under. The Republican-backed HEALS Act also allocates $500 for dependents, of any age. But the Democrat-backed Heroes Act suggests $1,200 for a maximum of three dependents. If a change is made, even if it ultimately leads to more money being sent, it could require the IRS to adjust its accounting system. That could potentially slow things down for you.
Banking status: With the first checks, people who didn't submit direct deposit information to the IRS had to wait longer to receive the stimulus money through the mail. As of June, 120 million people received the stimulus money through direct deposit, 35 million through a check in the mail, and 4 million through a prepaid debit card. The IRS hasn't provided an update on how many people received a stimulus check by Aug. 1.
Watch this:Stimulus standoff on Capitol Hill
1:21
Banking status has affected the speed of payments since the CARES Act passed, disproportionately impacting Black Americans and people of color, according to an analysis (PDF) by the think tank Urban Institute. People who are white and whose incomes were above the poverty line were more likely to have received their first stimulus check by the end of May than people who are Black, Hispanic or below the poverty line, the analysis found.
People who didn't make enough money to be required to file federal income tax returns in 2018 or 2019 also would not get a stimulus check unless they submitted a form to the IRS, according to a report from the Center on Budget and Policy Priorities. This group includes low-income families with children and a far greater number of Black people and people of color.
When's the latest date you would get the new stimulus check?
Once again, the schedule for the first stimulus checks can provide a potential roadmap, but there's no official news until another rescue package is finalized.
The IRS will have sent about 200 million checks by the time the agency is done distributing the first raft of payments. (The total US population is over 330 million people, according to the Census Bureau.)
The majority of those were sent by the beginning of June, though the IRS said it will continue to send payments through the end of the year.
US workers are experiencing a staggeringly high unemployment rate.
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Stimulus check requirements: How your eligibility could change with a new relief package
Now that the president has taken executive action, could the House and Senate still approve another stimulus check? Here's the situation today and who may qualify to receive another $1,200.
No date has been set to resume talks, but both sides of the aisle have expressed interest in picking the negotiations back up. "It's time for everybody to get back to the table, and let's get a deal," Senate Majority Leader Mitch McConnell said on Tuesday. Another round of direct cash payments should not be in dispute, he said. "Let's get this assistance directly to the people who need it."
Here's what we know about who would become eligible to receive a payment under each plan. Keep reading to see if you might meet the qualifications that are likely to be set in a final bill, if one is passed. This story updates often with new information.
CNET CORONAVIRUS UPDATE
Keep track of the coronavirus pandemic.
Who might receive a stimulus check if the HEALS Act is passed?
There may be continued discussions over stimulus relief in the coming weeks. If the HEALS Act becomes law, it would largely replicate the payment eligibility set out in the earlier CARES Act, with a new allowance for dependents:
A single US resident with an adjusted gross income, or AGI, less than $99,000
A head of a household earning under $146,500
A couple filing jointly without children and earning less than $198,000
Under the CARES Act, the cutoff to receive a $500 dependent check was age 16 and younger; college students under 24 years old weren't eligible to receive a check. The Republican proposal would exclude people in prison and people who recently died from qualifying for a check. The bill would also prohibit creditors and banks from seizing the payment to pay debts.
Watch this:Stimulus standoff on Capitol Hill
1:21
The Heroes Act's framework for stimulus check requirements
The Democratic proposal offers broader eligibility parameters in the Heroes Act, which was advanced by the House of Representatives on May 15. Although Senate Republicans and the president oppose the plan, we can look to this bill to see the Democratic position on the upper limits of who might qualify in a broad proposal:
Individuals who made less than $99,000 according to the adjusted gross income from their 2018 or 2019 taxes (whichever was most recently filed)
College students, dependents over 17, disabled relatives and taxpayers' parents
Families of up to five people, for a cap of $6,000 per family
SSDI recipients
People who aren't US citizens but do file tax returns, pay taxes and otherwise comply with federal tax law using an individual taxpayer identification number instead of a Social Security number
It could soon become clear who will qualify for another stimulus check.
Sarah Tew/CNET
Here's who did not get a stimulus check under the CARES Act
Under the CARES Act, which became law in March, these groups were excluded from receiving the first payment:
When will Congress reach an agreement on the eligibility requirements?
Right now, the timeline for continued discussions remains up in the air. While talks between Republican and Democratic negotiators on the new stimulus package stopped last week, the two sides have signaled they are willing to pick up the debate. If talks resume and they reach an agreement soon, the House of Representatives and Senate could still hold votes on the bill later in August. After the sides reach an agreement, the stimulus bill won't take effect until the president signs it into law.
And while we won't know for sure until the two sides come together on the next stimulus package, we have a good idea when a check could be sent, if a new bill passes.
Discuss: Stimulus check 2 update: How fast the IRS can send a payment to you if Congress reaches a deal