The new $ 900 billion stimulus legislation sets a January 15 deadline for submitting stimulus payments. What will happen if you did not receive the payment by that day?
As the Coronavirus Response and Relief Supplemental Appropriations Act has set January 15 as the deadline to send direct payments, after this date, the agency will no longer be able to send your payment.
The IRS and Treasury only have five days to send the rest of the second stimulus checks, since when the stimulus bill was written in December, the deadline for turning them was determined to be January 15.
Although approximately 80% of the second stimulus checks have already been sent through direct deposit and by mail in the form of paper checks and debit cards, it will not be an easy task to send the missing 20% in the next five days.
In fact, the IRS has been sending stimulus checks so fast that it has already made mistakes and made, for example, direct deposits to the wrong bank accounts.
The IRS is working hard to deliver the second Economic Impact Payment quickly, as required by law, while still preparing for the upcoming 2021 tax filing season.
So that you can know what the status of your second stimulus check is, the IRS updated Get My Payment (GMP) on January 5, 2021.
If GMP reflects a direct deposit date and partial account information, then your payment is deposited there.
If GMP reflects the date your payment was mailed, it may take up to 3 - 4 weeks for you to receive the payment. Watch your mail carefully for a check or debit card. (See the FAQ for EIP Card)
If GMP shows “Payment Status # 2 - Not Available,” then you will not receive a second Economic Impact Payment and instead, you need to claim the Recovery Rebate Credit on your 2020 Tax Return.
Due to the compressed timeline, the IRS is unable to reissue and mail checks and instead encourages people to file their 2020 tax returns electronically to claim and receive the Recovery Rebate Credit as quickly as possible.
This is how you can also claim any money that the IRS still owes you from the first round of stimulus checks.