STIMULUS CHECK TIMELINE UPDATE
Once it’s ready, the portal will be the only way to immediately update one’s IRS account with direct deposit information and therefore the only way to switch one’s stimulus check payment delivery from mail to direct deposit. This might be exciting news for some people, particularly those who know they’ve already set up a direct deposit option with the IRS.īut those who have always received their tax refunds by mail might have to wait months to receive their stimulus checks - which is why many Americans are likely wondering when the IRS web portal will be available. He said the first round of stimulus checks for direct deposit users is set to go out this week or next week. National Economic Council, told CNBC on April 6 that approximately 175 million Americans will receive their stimulus checks soon.
STIMULUS CHECK TIMELINE REGISTRATION
NEW: Our free Stimulus Registration product was designed specifically to help the millions of Americans, who aren’t required to file a tax return, get their stimulus check fast - find out if that’s you: /pQClUJRl7e (If you set up direct deposit through the web portal, your timeline will likely speed up.)ġ75 Million Americans Are Set to Receive Funds ‘This Week or Next’ if They Have Direct Deposit Set Up In some cases, it could mean a difference of months.įor now, there is some information about when exactly you can expect your stimulus money, depending on whether you’re currently set up for mail delivery or direct deposit. The reason people care so much about direct deposit versus mail with stimulus money is that the direct deposit option will allow them to receive their payments much faster.
The most recent information from the IRS about this web portal comes from a March 30 statement: “In the coming weeks, Treasury plans to develop a web-based portal for individuals to provide their banking information to the IRS online, so that individuals can receive payments immediately as opposed to checks in the mail.” However, the IRS coronavirus page will provide information about this web portal as soon as it becomes available. The IRS web portal is still not available as of April 7. The IRS web portal will enable users to confirm their banking information so stimulus money can be sent directly to their checking account. Here is a refresher on the first stimulus check timeline.The Internal Revenue Service (IRS) has stated it will set up a simple web portal for Americans in the coming days so people can provide their direct deposit information for stimulus money. After that, the template left by the CARES Act may be more helpful, as it could show some of the logistical and bureaucratic hoops to jump through before the check reaches taxpayers' hands. Still, there is doubt that what they consider will be the HEROES Act, as some senators intend to write their own legislation instead.Įither way, there is a process of negotiation that must take place before another stimulus check is passed. The Senate is currently on a two-week recess and is expected to begin considering another stimulus package when they return on July 17. However, the United States Senate has yet to consider the HEROES Act, and it has been sitting in limbo ever since. Congress was ahead of schedule in this regard, passing the HEROES Act in mid-May, which could lead to another round of stimulus checks. As the timeline for this crisis extends, so does the planning for relief measures - including more stimulus. government's first bill responding to the coronavirus pandemic, and it was never really expected to be the last. Still, there is a lot to consider with an operation of this size. This is one area where a second stimulus check would theoretically come much fast - the IRS now has up-to-date payment information for most Americans. Congress passed the bill in March and directed the Treasury Department to send the money out to Americans via the IRS, using the payment information included in the most recent round of taxes. The stimulus check most Americans received this spring was included in the CARES Act - the Coronavirus Aid, Relief and Economic Security Act.
0 kommentar(er)
