Now that the money has started going out, the question is being asked: when will I get my stimulus check?
Certainly, you’re getting it much later than we all initially thought. That was, in part, due to outgoing President Donald Trump’s refusal to sign the bill after it was passed by Congress.
And there’s still some question as to whether Americans will get $2,000 due to the current Congressional quagmire courtesy of Senate Majority Leader Mitch McConnell.
For now, however, let’s take a look at when you’ll get your stimulus check.
When Will I Get My Stimulus Check?
The most common question that people are asking is, “when will I get my stimulus check?”
The short answer, of course, is “soon.” Some people have already gotten their $600, especially if their direct deposit information is on file with the IRS.
The longer answer is a little more complicated.
Treasury Secretary Steve Mnuchin confirmed that direct deposits have already started, and will continue all the way into next Wednesday, January 6, 2021.
He also said that the IRS has already begun mailing out checks for those whose banking information is not on file with the IRS.
The IRS needs to conclude sending out stimulus checks by January 15, 2021, so if you haven’t received your $600 by then, there’s a good chance you aren’t getting it.
According to the IRS, if Congress does approve the additional $2,000, it will be disbursed “as quickly as possible.”
Will We Get The Additional $2,000?
At this point, the prospect for an additional $2,000 looks grim. It’s not that the United States can’t afford to give it to their constituents — it’s that Congress, and specifically Mitch McConnell, doesn’t want to.
“In our view, the $2k cash supplement is unlikely to pass the Republican Senate given the strained fiscal conservatism in the [Republican] caucus,” Benjamin Salisbury and Hunter Hammond of Heights Securities said in a December 29 research note obtained by CBS News. “We still expect eligible recipients to receive $600, not $2,000.”
But be warned: if you made more than $87,000 as a single person — or more than $174,000 as a married couple filing jointly — the answer to “when will I get my stimulus check?” is “never.”