Second stimulus check cash could be in your bank account TODAY as IRS makes funds officially availableJanuary 5, 2021
THE second round of stimulus check cash could be in your bank account TODAY as the IRS has made the funds officially available.
The $600 emergency coronavirus payments going directly in the hands of Americans comes as Donald Trump signed a $900billion package last week – after months of bill negotiations in Congress.
Stimulus checks have begun rolling out to Americans– with many receiving the payments via direct deposit.
The government agency noted that the cash – payments of $600 for individuals, with an extra $600 per child – "may take several days to post to individual accounts."
On Monday, the IRS said: "Paper checks also began going out and will continue to be sent through January."
"Some people will be mailed debit cards in January, and the IRS urges people to carefully check their mail. Mailed payments will require more processing and mailing time."
Like in the first round of checks, Americans who do not receive their payment via direct deposit may get their cash on a pre-loaded debit card or check.
For those who get a paper check in the mail, Venmo announced that Americans can cash their stimulus with a new feature on the app.
As checks have begun to roll out, some Americans have reported problems getting their payouts when using the "Get My Payment" portal.
An error message may read: "We are unable to provide the status of your payment right now because we don't have enough information yet (we're working on this), or you're not eligible for a payment."
The IRS advised that just because there is an error message does not mean that a person will not receive a check.
If a person does not receive their payment by the time they file their 2020 tax return, the government agency said that they may claim a Recovery Rebate Credit to get the cash.
With $600 payments are being sent out to millions of Americans, many are still pushing for a $2,000 payment.
Two Republican Georgia Senators up for re-election – Kelly Loeffler and David Perdue – introduced a new bill that would send $2,000 payments to Americans after Senate Majority Leader Mitch McConnell blocked a vote on the increased checks.
The new bill came as the Republican Senators face off against Democrats Jon Ossoff and Reverend Raphael Warnock for the seats – in a fate to be decided today.
President-elect Joe Biden has said that if Democrats win the runoff in Georgia today, $2,000 payments will be sent out "immediately."
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