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Is it possible that the IRS will send the third stimulus check this week?

Is it possible that the IRS will send the third stimulus check this week

The Biden Administration is confident that the House vote will be a “mere formality.”

The answer to the headline of this article is yes, but only people who provided their banking information could start receiving their deposits, provided the passage of the economic stimulus package in the House of Representatives occurs smoothly this Tuesday.

Even if the IRS starts depositing the funds, not everyone would receive it right away, although a high percentage would, but let’s take it one step at a time.

House Democratic Leader Steny Hoyer (Md.) said that the American Bailout Plan pushed by President Joe Biden will be voted on the floor on Tuesday, March 9.

“On Tuesday, the House will consider the Senate’s amended version of the American Rescue Plan, so that we can send this bill to President Biden for his signature early next week,” he advanced.

There is expected to be some debate, especially from Republicans, in an attempt to block passage, but if House Speaker Nancy Pelosi (Calif.) manages to keep her caucus united, the bill would be endorsed without a problem.

This would allow the bill to be sent to President Biden, whose signature could occur no later than March 10, making it a priority for his administration.

Taking into account last December’s relief distribution schedule, the IRS would begin making deposits of the $1,400 on March 12, which would continue the following days for those who provided current bank accounts on 2019 and 2020 tax reports.

The remittance of funds would be as follows:

  • March 12: Deposits to bank accounts would begin.
  • March 13-15: Check printing would begin.
  • March 15-19: Card printing would begin.

It is important to note that in addition to the printing of checks and cards, the USPS requires up to two weeks to deliver the corresponding envelopes.

In that sense, most people earning less than $80,000 per year and couples earning less than $160,000 per year will receive the support this month.

The distribution of the funds, which also includes $1,400 per child or dependent, would continue according to a yet-to-be-defined IRS schedule.

President Biden also anticipated that the assistance would be sent this month.

This plan will get the checks out the door starting this month for Americans who so desperately need the help,” he said.

The Senate approved the aid package Saturday with a 50-49 vote by all Republicans, who believe the country does not need more pandemic aid or families who have lost economic power.

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