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IRS may begin mailing third $1,400 stimulus check in late March

IRS may begin mailing third $1,400 stimulus check in late March

Once signed by Biden, it would take a week or two for the IRS to send out the economic stimulus checks.

The third $1.4 billion economic stimulus check could be sent to the bank accounts of tens of millions of U.S. citizens by the end of March or early April.

The House Ways and Means Committee, chaired by lawmaker Richard Neal, concluded its review of President Joe Biden’s $1.9 billion aid package last week without making major changes to it, meaning the proposal will now be evaluated by other House committees before coming up for a possible vote next week.

Democrats on Capitol Hill are rushing to complete the stimulus package by March 14 because that is when the $300 weekly unemployment insurance bonus and other pandemic relief benefits expire.

Hunter Hammond, a financial analyst, said the Senate is likely to vote on the package in early March, and after that it will only need Biden’s signature.

Once signed by Biden, the Treasury Department, within a week or two, will likely begin sending economic stimulus checks to citizens of those who already have their direct deposit information on file with the IRS.

The last time the federal government approved stimulus checks – the $600 checks in December – people started receiving them in their bank accounts in as little as a week. Paper checks or debit cards could take weeks to arrive for those who don’t have their bank information on file.

Congress faces deadline to pass third stimulus check

Once the third stimulus check is approved, the IRS would only need a few days to start mailing it.

Last week, the House Ways and Means Committee (one of the panels that controls the government’s finances) approved a bill that includes a third stimulus check. Despite this progress on this issue, it still remains to be voted on by the full House, which is scheduled to take place during the week of February 22.

After being voted on and passed in the House of Representatives, the bill will have to be approved in the Senate, where Democrats hold the narrowest majority.

Senate President Nancy Pelosi says her goal is to have a bill ready for the president’s signature just before millions of Americans lose their unemployment benefits on March 14. That’s when a round of additional economic supports expires, according to Yahoo.

If all goes according to plan, and Biden signs the bill during the first part of March, the IRS would need just a few days to start issuing third stimulus check payments again. And that means you could get yours in about mid-March.

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