Will Stimulus Check Round 2 happen?
How fast can the IRS (Internal Revenue System) deliver a second stimulus check to you? In late July, the second stimulus act was presented officially as the Heals Act. If you are one of the eligible American, you must be wondering about the time of its arrival. The arrival of a second stimulus check completely depends on whether the congress is going to pass a bill for it or not. For this, the Republicans and the Democrats must agree which seems doubtful at this particular moment.
Is it different from the previous one?
The stimulus checks were authorized as a one-time payment by the CARES Act in March. When this act was passed, the checks were sent out after around 3 weeks. The checks weren’t sent to everyone at the same time. To check the status of payment, one can fill out a short form on the IRS Get My Payment app. The IRS has done some calculations according to a lot of factors like the money you earn and the tax you pay. According to this calculation, the check is sent in different batches at different times, and it will likely be in the same way for the second one. If the bill gets passed, the IRS can easily issue these stimulus checks within a week. Mnuchin said checks could be sent the week after the president signs the stimulus legislation.
Problems appearing in the upcoming Stimulus Check
The stimulus check has been a relief measure, but they are also quite difficult to implement as they face legal challenges. Till now, no funding has been provided for a second round. A lot of orders have been signed. The sole purpose is for financial aiding in this pandemic by president Trump. But this has been quite a debatable topic. There has been no official plan, and it looks like there will be no stimulus check until next month. However, if both the parties reach a compromise for the meeting of these new bills, there will be a second-round soon.