A new stimulus check is on the horizon. Here’s exactly how soon it could come

While the Senate acts as jurors in the impeachment trial of Donald Trump (how to watch live), the other half of Congress — the House of Representatives — remains focused on a third stimulus check for up to $1,400 per person and timing is everything. The goal with a third check is to send out a large sum of money, quickly, to lower and middle income people who are deemed to need it most during the ongoing pandemic and before widespread vaccinations against the coronavirus pave the way to normalcy and economic stability.

The timing isn’t so simple. For a start, lawmakers and leaders have to agree on a suite of qualifications that govern who will and won’t get the full stimulus check amount (here are details on the latest proposal). Second, the bill has to pass both chambers of Congress, and third, the IRS will have to calculate and process a third payment — which would likely happen in the middle of tax season, further complicating matters.

House Speaker Nancy Pelosi is aiming for President Joe Biden’s $1.9 trillion stimulus package to clear the House Feb. 22 (using this technique), which would line it up to arrive sooner than the previously forecast date of March 14. After that, the gap between the time Congress might approve a $1,400 stimulus check and when it lands in your bank account or mailbox could differ depending on which payment group you’re in. We mapped out possible dates and explore questions about 2020 tax season below. This story was updated with new information.

Two possible timelines for the next stimulus check

The stimulus check schedule is no sure thing. If all the pieces come together, a stimulus package has a chance of passing before March with a third stimulus check. A delay of any sort could push it back days or even weeks.

We laid out out some hypothetical dates for two situations: if a bill were to pass before the end of February, or by March 14, a date when some existing benefits lapse. The chart below highlights when the IRS could potentially send the next stimulus check, based on how quickly it processed and sent out the second stimulus payments. 

Note that different payment groups by method (direct deposit, physical checks and EIP cards) may begin to show up at different times. And it could take weeks for people in a group to all get their funds, so consider these dates a starting point only, and read on for more details. We’ll refresh these dates as the situation evolves.

Your stimulus payment group is important and changeable

The way you get your stimulus money could help determine when you get your stimulus money. Direct deposit recipients typically get their stimulus checks faster, as evidenced by the first two rounds of payments. But both times there have been issues involving deposits going to temporary accounts, which were rejected by banks.

The IRS told CNET in January that some people who received a physical check or EIP card the first time may get paid by the other method the second time around. And, anecdotally, we’ve heard of people who received direct deposit payments the first time finally getting an EIP card in the mail — and not an electronic bank transfer — two weeks after the IRS tool said the payment was issued.

Our recommendation is to make sure you have direct deposit set up with the IRS as part of your 2020 tax return, if you ordinarily file taxes. We also suggest you attempt to file them quickly, so you’re set with your most recent financial information.

The other payment groups loosely defined (by us) include Social Security beneficiaries, who received payments a different way the first time if they’re part of the SSI or SSDI programs, and people with more complex scenarios that could lead to potential issues or holdups receiving their money. People in different child support situations have been one example, and so have people who are incarcerated, as well as those with complex citizenship scenarios.

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Stimulus check No. 3: What you need to know

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Here’s how quickly the IRS could send all the stimulus checks

In fewer than three weeks from the date the second stimulus bill passed in December, the IRS and Treasury sent about 147 million payments. That was a tremendously fast turnaround. Back in March, it took the IRS 19 days after the first stimulus bill passed to issue the first round of those $1,200 checks, out of a total of about 160 million payments. 

In both cases, delivery didn’t always go smoothly. Some people reported they received EIP cards from the second payment two weeks after the date the IRS tool said it had shipped. (If you didn’t get yours, you have to claim it as part of tax season 2020.)

There was also a notable direct deposit error as a result of the IRS’ rush to get payments delivered and people who didn’t get their payment may now have to wait weeks or months for their second checks. But the scenario suggests that if the protocols are in place, the IRS could theoretically ship out third stimulus checks within days and weeks, rather than weeks and months. Tax season, however, could throw a big wrench into the gears — more below.

How tax season could impact a new stimulus payment

Since the third stimulus check is likely to drop in the middle of tax season (taxes are due April 15), the IRS may have to calculate your total based on the most recent tax filing it has — 2020 if you file taxes early, or 2019 if the check is ready before your tax return is. 

If you’re owed money, you might have to wait a year, until you file your 2021 taxes in 2022, to claim it, according to the latest proposal (PDF).

By mid-March, tens of millions of Americans may have already received their tax refunds, which could make it tricky for the IRS to straighten out problems or redact refunds after issuing. Again, you may need to wait a year to address any errors.

Could you get your third stimulus check faster? What to know

There may be a few things you can do to help speed up receipt of a third payment, assuming it happens. For example, signing up for direct deposit in your 2020 tax return would put you in the priority category for a third stimulus payment. 

And if you’ve moved recently, tell the IRS and USPS. Here are our other suggestions for how people can make it more likely they’ll get their second checks faster. Note that there could be some changes to qualifications that may not apply to a possible third stimulus check.

Would the IRS have to meet another deadline for sending out checks?

The Jan. 15 deadline set for the second stimulus check was written into the text of the bill without explanation. It isn’t immediately clear if the bill text would adopt another cutoff in the future, or if that was a one-time consideration that took into account the IRS’ overlapping need to process stimulus checks and prepare for the 2020 tax season. Last year, the April 15 tax date was extended to July 15.

The two overlap with the second stimulus check in that anyone who didn’t receive all or part of their second payment must claim it as part of the IRS’ Recovery Rebate Credit on their tax return — even if they have nonfiler status and aren’t typically required to file taxes.

Will a third stimulus check definitely happen?

A bill that includes a stimulus payment isn’t a done deal until it’s signed into law. That said, Biden appears determined to drive forward a $1,400 check as part of his overarching stimulus plan, and Democrats in Congress have paved the way to push a bill through Republican opposition using a tool called budget reconciliation. 

Here’s everything you need to know about stimulus checks in general, including what to do if you run into problems with either of the first two payments.