Stimulus Timeline Update
Today, Secretary of the Treasury Mnuchin, in a conference call, reportedly stated that direct deposits for the stimulus will begin next week for those who filed a 2018 or 2019 tax return.
You may have seen headlines today, saying that it will be April 9. The the Washington Post said they saw some document that said April 9th, — and I was always skeptical of this..
Someone farts out some speculative date, and the media rush to make a video!
But with Secretary Mnuchin saying this today, I think we’ve now received fairly firm confirmation that the earliest direct deposit stimulus payments won’t come out until next week — the week of April 13.
Also today — and of course this doesn’t carry as much weight as a statement made by the Secretary of the Treasury — but Representative Debbie Dingell from Michigan’s 12th District laid out a stimulus timeline on her blog.
Now, it seems consistent with what Mnuchin is saying, and I like how she put her name on this. This isn’t some anonymous thing picked up by the Washington Post or whoever. This is a member of Congress saying, hey, here’s what I think is going to happen.
Here’s what she said:
- Starting mid-April (likely the week of April 13) the IRS is expected to make approximately 60 million payments to Americans through direct deposit for people who used direct deposit on their 2018 or 2019 tax returns. This will include Social Security beneficiaries who filed federal tax returns that included direct deposit information.”
- Shortly after that (hopefully within 10 days) after the first round of payments are made in mid-April, the IRS plans to make a second round of payments. These payments will be made to Social Security beneficiaries who did not file tax returns in 2018 or 2019 and receive their Social Security benefits via direct deposit.
- Approximately three weeks after the first round of payments are made (the week of May 4), the IRS is expected to begin issuing paper checks to individuals. The checks will be issued in reverse “adjusted gross income” order— starting with people with the lowest income first.
So, there you have it. This, I believe, is the best timeline we have so far for stimulus payments.
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hello, I’,m following the updates you’ve been providing and I did see where you commented on the IRS site had updated their site to show more info., but I did a direct deposit where my taxes were done and I got a notice from the site payment was deposited on 4/15, but my bank still doesn’t show any deposits coming from the IRS. I’m a single mom and have 1 child that qualifies for the additional 1700.00, and they haven’t seen anything come in. I only got a notice that said “to contact your bank about the deposit and a letter will be mailed if you didn’t receive your payment”. I have clue where to even look because I haven’t received a letter and my bank is still staying not received. I do have the same bank account that I used for my tax refund, no new bank, and ? I have no idea what/where I have to call because the IRS site shows “don’t call”.