Article

2020-08-07 Economy

The IRS could send your second stimulus check sooner than you think. What you need to know

[CNET] With less than two days remaining to reach an agreement on the next stimulus package before a self-imposed Aug. 7 deadline, White House and Democratic negotiators continue to search for common ground on the details of the bill, including if the final legislation will include a second stimulus check. How soon you could then receive that new payment depends entirely on when the two sides come together on a deal.

While negotiators are hopeful they will reach an agreement this week -- "I feel optimistic that there is a light at the end of the tunnel," House Speaker Nancy Pelosi said on Wednesday -- President Donald Trump said he is prepared to act on his own to enact parts of the proposed bill if talks drag on.

"My administration is exploring executive actions to provide protections against eviction," Trump said Wednesday. In preparation for a deal this week, Senate Majority Leader Mitch McConnell said Thursday that his chamber will delay its planned August recess scheduled to start Aug. 10 and convene on Monday.

Once the two sides do reach an agreement, US Treasury Secretary Steven Mnuchin said the IRS could "start printing them the following week." This timeline would be much faster than the 19 days it took for the IRS to send out the first stimulus checks after the CARES Act was passed in March.
IRS? Doesn't the Treasury do that?
Working with the dates, we have a good idea when checks could be sent and who might receive them first, once the final bill becomes law. Read on for everything we know right now, based on the present debate. This story is updated often to reflect the latest news developments.

Posted by Besoeker 2020-08-07 03:00|| || Front Page|| [14 views ] Top

#1 I guess Trump has a phone and a pen too. Going to rain all over Pelosi's obstructionism.

Posted by Marilyn Tojo7566 2020-08-07 08:44|| 2020-08-07 08:44|| Front Page Top

#2 Does the President have the legal ability to spend money not appropriated by Congress?

Posted by Glenmore 2020-08-07 11:22|| 2020-08-07 11:22|| Front Page Top

#3 The Democrats and the Republican legislators tucked in all kind of discretionary spending bills into law. IIRC it started in WW II and really took off after the "War Powers Act" under Johnson. " After all it hasn't been real money since they got rid of the Silver Certificates.

Posted by Thaith Elmeresing6163 2020-08-07 11:45|| 2020-08-07 11:45|| Front Page Top

#4 Does the President have the legal ability to spend money not appropriated by Congress?

He can reduce or suspend the intake of payroll taxes. Pref for low income earners.

Posted by Skidmark 2020-08-07 11:50|| 2020-08-07 11:50|| Front Page Top

#5 My guess is that the IRS has the database of the people who can receive the stimulus check and won't or can't share it with other agencies,

Posted by AlmostAnonymous5839 2020-08-07 11:51|| 2020-08-07 11:51|| Front Page Top

#6 ^ Prolly right,

"won't or can't share it with other agencies" except when going after Tea Party or other Conservative groups

Posted by Frank G 2020-08-07 12:11|| 2020-08-07 12:11|| Front Page Top

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