Stimulus check: when is the new deadline extended by the IRS?
If you have not yet recieved your $1,200 Economic Impact Payment, here's everything you need to know about how to register.
The IRS has announced that it will extend the deadline for Americans to register for the first round of stimulus checks. Around nine million citizens who are eligible for the Economic Impact Payment are yet to receive the support offered to help deal with the financial consequences of Covid-19.
The initial cut-off date to register was 15 October but that has been pushed back to 21 November to allow as many people as possible to get the payment.
Americans who do not usually file tax returns because they earn under $12,200 dollars will not be on the IRS database and will need to provide their details to receive the support. The IRS has sent letters to the nine million who are yet to receive their stimulus checks, encouraging them to use the online Non-Filers tool to register.
Final chance to receive CARES stimulus check
The US offered a $1,200 stimulus check to individuals as part of the Coronavirus Aid, Relief and Economic Security (CARES) Act, signed into law by the President in March. In total over 160 million checks have already been issued to Americans as part of the first wave of stimulus payments.
Speaking about the decision to extend the deadline for those who need to register, IRS Commissioner Chuck Rettig said: “We took this step to provide more time for those who have not yet received a payment to register to get their money, including those in low-income and underserved communities.”
He added: “Time is running out for those who don’t normally file a tax return to get their payments.”
“Registration is quick and easy, and we urge everyone to share this information to reach as many people before the deadline.”
HEROES Act: Pelosi and Mnuchin talks ongoing
The deadline to register for the Economic Impact Payment has been extended but lawmakers are already locked in negotiations regarding the size and scope of the new programme of financial support.
The main stumbling block is thought to be the federal supplemental unemployment benefits which, as of mid-September, covers 26 million out-of-work Americans. House Democrats passed a $2.2 trillion package known as the HEROES Act last week that would see the current $600 weekly supplement extended through to January. CNBC reports that the White House wants that amount reduced to $400, at a total cost of $1.6 trillion.
The talks are being led by Speaker of the House of Representatives Nancy Pelosi and Steven Mnuchin, Donald Trump’s Secretary of the Treasury. Dialogue between the two sides stalled in August and the two key figures have only recently returned to the negotiating table.
With just 28 days to go before the election, the President is running out of time to pass the aid bill before Americans go to the polls on 3 November.