To expedite the payment of stimulus checks, it will be necessary to comply with four essential steps
The IRS began sending the first round of checks in May to people with lower incomes.
Photo: Chip Somodevilla / .
Negotiations for a new stimulus bill are likely to resume until the Republican National Convention closes on Thursday. A significantly reduced Republican Party stimulus bill and a new funding bill from the United States Postal Service are also diverting attention from the initial proposal for a broader financial aid package for Americans.
Although there is no official plan yet, receiving this second stimulus check is likely to work much the same way the IRS did the first time.
Here are the three ways a new Internal Revenue Service (IRS) stimulus check payment could reach your home:
1. Direct deposit:
If you filed your tax return in 2018 or 2019 and included the bank information for direct deposit, you may be able to receive your check as direct deposit.
Even if you didn’t submit your direct deposit information to the IRS during tax season, you should have more options to opt out of it.
In case you requested an extension of your taxes, you can file them before the due date of the October 15, 2020 and choose to share your direct deposit information with the IRS.
When this occurs and the IRS reopens the online tool you used during the first round, the system will allow you to record your information at that time.
Related: IRS to distribute tax refund checks and announce that it will pay interest on arrears.
2. A paper check through the mail
If you did not file your bank details with the IRS, you will likely receive a paper check by mail, which you can deposit or collect. If you have recently moved, be sure to present your address change papers. The IRS will use your last known address, which could delay delivery of your check or cause a delay.
The IRS recommends updating your information in the event that a second stimulus check is approved. You can review here the four steps that will be essential for you to claim your right.
3. Prepaid card
Under the CARES Act, about 4 million people also received money in the form of a prepaid “economic impact payment” card, which is spent as cash. The cards arrived in unmarked, white envelopes and ready to be activated.
You can review the security details of the stimulus check through this link.
-You may also be interested: