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Will a Second Stimulus Check be Approved, When Will You Receive It?

Updated: 3 days ago

FLAT FEE TAX RELIEF


With White House and Congressional negotiations underway to pass a new economic rescue package with a second stimulus payment also being mentioned, we can forecast that qualifying Americans could be getting paid by the government a second time this year. That's the good news. The bad news is, it most likely won't happen until after the election.


Should a second stimulus check become a reality, it will depend on how quickly the IRS can start sending out money to taxpayers. Here are some important stimulus payment facts American should know about.

Recently, House Speaker Nancy Pelosi as well as House Democrats provided a new relief proposal. Pelosi has also agreed to resume negotiations with Treasury Secretary Steve Mnuchin to discuss laying out a new bill that includes another stimulus check, as well as other items like aid for airlines and restaurants. 

Should another stimulus check make its way through Congress, it could take about a week to orchestrate the first payment. Potential dates have also been speculated, based on the House of Representatives and Senate, to happen anytime in October to the middle of November. This is of course contingent on a bill being passed that includes Americans receiving a stimulus check. We predict not much will happen prior to November 3rd.

So far, the IRS has sent out money to at least 160 million people in three different ways. There are those who filed for direct deposit, taxpayers who chose to receive a paper check, and others with more complicated scenarios who are still waiting for their payments. It is expected that if a second round of stimulus checks are distributed, the IRS will use the same system they previously used when the first checks went out.

Taxpayers who have their direct deposit information on file with the IRS or add their direct deposit information if the registration opens up again, should be the first in line to receive their second stimulus check. An electronic transfer of funds is a faster and much more efficient way to receive your money. This article is brought to you by the tax professionals at Flat Fee Tax Relief. Our tax pros have been providing valuable IRS tax debt help at a very affordable fee for more than a decade. We are strategically located in Clearwater, Florida, and San Diego, California. Our hours of operation is 8 A.M. Eastern to 6 P.M. Pacific time. Why is this important? Should a taxpayer on the East Coast call us with an IRS Wage Garnishment that needs to be released that day, our tax pros have an extra three hours to get the IRS to stop that levy. We have always offered a free no-obligation consultation.

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