October 28, 2020
9 things to know about another stimulus check after the House vote

10 things to know about a second stimulus check now that a dedicated bill may happen


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Here’s what’s happening with a second stimulus check today.


Angela Lang/CNET

Less than a day after President Donald Trump returned to the White House after his hospitalization with COVID-19, he took to Twitter to order the GOP to stop talks on the next economic stimulus package until after the election. Before Tuesday was over, Trump had tweeted the opposite view, demanding to put talks back on the table by urging “a Stand Alone Bill for Stimulus Checks ($1,200)” which would “go out to our great people IMMEDIATELY.” This followed a Saturday tweet demonstrating the president’s support for a new bill, which seemed to signal urgency in the context of his illness. Trump remains on medication to fight the coronavirus, including a 10-day course of the steroid dexamethasone, typically reserved for severely ill patients.

The bottom line? There’s still hope that a second stimulus check for eligible people could still happen — and perhaps even before the Nov. 3 election.

House Speaker Nancy Pelosi criticized Trump’s motivations on Tuesday (“He refuses to put money in workers’ pockets, unless his name is printed on the check,”) but has signaled a willingness to explore a standalone bill to deliver much-needed aid and plans to speak Wednesday to chief White House negotiator, Treasury Secretary Steven Mnuchin. 

While you wrap your head around the abrupt shift in direction, we’ve assembled the 10 key facts about stimulus payments to help you understand the latest, including how quickly you could receive another payment with a new timeline in effect, how to calculate the amount you will be due, and how the stimulus payments are reflected on your federal income taxes. This story is frequently updated.

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High unemployment rates and a faltering economy underscore the need for more aid.


Angela Lang/CNET

Trump reboots stimulus package after powering down talks

The key takeaway from Trump’s tweets is that he’s still looking to pass a “major” new bill after the election, expressing confidence in winning a second term. Trump has expressed enthusiasm for delivering direct payments and vows to 

Prior to Trump’s midday tweets, Federal Reserve Chair Jerome Powell talked about the need for further federal assistance. “The recovery will be stronger and move faster if monetary policy and fiscal policy continue to work side by side to provide support to the economy until it is clearly out of the woods,” he told attendees of the National Association for Business Economics’ virtual annual meeting.

The IRS’s timeline to send stimulus checks has shifted

If talks don’t resume until after the Nov. 3 election, projections for receiving a stimulus check would be pushed back by two months for the first group of people out of five priority groups we identified based on the first stimulus checks. The final groups could receive their checks weeks or even months after people in the first batch. 


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Next stimulus checks: What to expect



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A new stimulus bill passed the House. Here’s what it means

The House of Representatives passed a revised stimulus bill Thursday that includes a stimulus payment, as well as $600 a week in federal unemployment benefits and aid for airlines and restaurants (compare it with the CARES Act here). But — and this is critical — this new take on the Heroes Act isn’t law. 

If the talks do pick up after the election — either following Nov. 3 or after Inauguration Day on Jan. 20, 2021 — they could yield a completely new bill that both the House and Senate would then vote on.

A $1,200-per-person stimulus check cap is likely

During talks, there was bipartisan support to provide another direct payment to people who qualify (more on that below). Republican and Democratic proposals and Trump, in his tweets, all support a $1,200 per person limit. However, if qualifications expand, families could get more money in the second round. (More on this below.)

The IRS could still send checks faster once approved

The IRS and Treasury Department sent the first round of stimulus payments to recipients within 19 days. In August, Treasury Secretary Steven Mnuchin has said he could send them much faster this time, once new legislation is signed. “I could get out 50 million payments really quickly” and start making payments a week after a bill is signed, he said

You won’t pay taxes on relief money no matter when it arrives

The IRS doesn’t consider stimulus money to be income, and a payment you get this year won’t reduce your refund in 2021 or increase the amount you owe when you file your 2020 tax return. You also won’t have to repay part of your check if you qualify for a lower amount in 2021. The IRS said if you didn’t receive everything you were owed this year, you can claim it as a credit on your 2020 federal income tax return by filing in 2021. Here’s everything to know about stimulus checks and taxes.

Eligibility rules could change to your benefit

While we think a second stimulus check would largely follow the same guidelines as the first, eligibility requirements are subject to change. It might even benefit your family, if a new stimulus bill redefines who counts as a qualifying dependent.

Other notes on eligibility:

Stimulus money could be delivered 3 ways

With the first stimulus check, the IRS and the Treasury Department sent payments three ways: direct deposit, physical checks and prepaid EIP cards. According to the most recent numbers from the Treasury Department (from June), this is how the nearly 160 million payments break down:

  • Direct deposit: 75%, or 120 million payments
  • Paper check: 22%, or 35 million payments
  • Prepaid EIP debit card: 3%, or 4 million payments

It’s expected you’ll receive your money fastest with direct deposit, followed by the check and then the EIP card. Read more about priority groups here. The IRS automatically picks the payment method, but is likely to reopen its online portal that lets people register for direct deposit if new legislation passes.

We already think we know how much money you could receive

If you’re still waiting for your first payment or are looking for an estimate of how much a second check could include, you can use our stimulus check calculator to get an idea for how much you, your family and your dependents may receive, especially if qualifications shift with another round of payments. Our calculator tool doesn’t retain your personal details in any way. 

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Less than a quarter of eligible recipients received their payment as a check in the mail.


Sarah Tew/CNET

Payment details can get complicated

When and if a second stimulus check does get approved, the details will require some unraveling. While some situations are straightforward, other complications about you and your dependents may make it unclear if you’re eligible, the size of a check you should expect and when it’s coming. Fringe cases abound. 

For example:

There’s much more to know about other government payments during the pandemic. Here’s what you need to know about a possible interest check from the IRS, the $300 federal unemployment benefit and the administration’s payroll tax cut.





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