BradEgeland.com #PMP #PPM #project #Agile #cybersecurity #planning #ai #SAFe #coronavirus #virtual #mindmap #remote #COVID19 #scaledagile #fintech #webdesign
  • Welcome
  • Contact
  • Mentoring Contact Form
  • Expertise
  • Blog
  • Find Local PM Jobs
  • Books / White Papers
  • Software / Service Reviews
  • This Week in PM
  • PM Video Series
  • Awards/Recognition
  • Templates & Downloads
  • Clients
  • Professional Services
  • Past Survey Results

Trump Finally Signs the Relief Bill - When Will Second Stimulus Checks Arrive

12/28/2020

0 Comments

 
Picture
Picture
A second round of stimulus payments was included in a coronavirus relief package signed by President Donald Trump on Sunday night.

The deal provides for $600 checks, but experts say it will take at least two weeks for the Treasury to get cash into individuals' bank accounts after legislation is signed.

"The timing could be more challenging this time, but the IRS could likely begin to get the money out in January," said Howard Gleckman, a senior fellow at the Urban-Brookings Tax Policy Center.

In March, Congress provided individuals with $1,200 direct payments and couples with $2,400 plus $500 per child under the $2 trillion CARES Act.
As with that first round, the new payments will start phasing out for individuals with adjusted gross incomes of more than $75,000, and those making more than $99,000 won't receive anything. The income thresholds would be doubled for couples.

It took two weeks after the first bill was passed for the IRS to start distributing the money -- but some eligible recipients still haven't received it, months later.
​
Who gets the money fastest

The payments do not go all out at once. Those whose bank information is on file with the IRS will likely get the money first because it will be directly deposited into their account. Others will receive paper checks or prepaid debit cards in the mail.

About 90 million people -- more than half of those eligible -- received their payments within the first three weeks of April after the March deal was signed. Most people had their money within two months.

Still, about 12 million eligible Americans were at risk of not getting the money at all because the IRS had no way to reach them. While most people received the money automatically, very low-income people who don't normally file tax returns had to register online before November 21 to provide their address or bank account number.

IRS under pressure

Additional checks may delay the start of the 2020 tax filing season.

A second stimulus check means the agency will have to make changes to the tax return forms, some of which have already been sent to the printers.

December is not an ideal time to add to the IRS's workload. It's typically the month when work is done to prepare for the upcoming filing season and more staff may be on leave than usual due to the holidays.

"I believe the IRS will deliver the stimulus checks in a timely manner. It just might be at the expense of the filing season start date," said Chad Hooper, the executive director of the Professional Managers Association, which advocates for more than 30,000 non-union IRS workers.

0 Comments



Leave a Reply.

    Author:

    Picture

    Brad Egeland


    Named the "#1 Provider of Project Management Content in the World," Brad Egeland has over 25 years of professional IT experience as a developer, manager, project manager, consultant and author.  He has written more than 7,000 expert online articles, eBooks, white papers and video articles for clients worldwide.  If you want Brad to write for your site, contact him. Want your content on this blog and promoted? Contact him. Looking for advice/menoring? Contact him.

    RSS Feed

    Picture
    Picture
    Picture
    Picture

    Archives

    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013
    July 2013
    June 2013
    May 2013
    April 2013
    March 2013
    February 2013
    January 2013
    December 2012
    November 2012
    October 2012
    September 2012
    August 2012
    July 2012
    June 2012
    May 2012
    April 2012
    March 2012
    February 2012
    January 2012
    December 2011
    November 2011
    October 2011
    September 2011
    August 2011
    July 2011
    June 2011
    May 2011
    March 2011
    January 2011
    December 2010
    November 2010
    October 2010
    September 2010
    August 2010
    June 2010
    May 2010
    April 2010
    March 2010
    November 2009

    RSS Feed

Powered by Create your own unique website with customizable templates.