Second wave of coronavirus stimulus checks could take almost FIVE MONTHS to arrive – The Sun

THE SECOND wave of stimulus checks could take up to 20 weeks to reach millions of Americans, including pensioners and veterans.

The checks, worth up to $1,200, are part of the government's stimulus package to assist those whose income has suffered as a result of the coronavirus' devastating impact on the economy.

The first wave of aid were released to those who had already provided the IRS with direct deposit information.

However millions are still waiting to receiving the money, and despite the next round of funding being released, they may have to wait months longer.

Americans who haven't recently filed returns, which includes pensioners, veterans and retirees, could have to wait up up to five months, the House Committee On Ways & Means estimates.

In a timeline published online, the committee said it "remains focused on ensuring all eligible Americans receive their payment as quickly as possible".

Five million paper checks will be released every week, the committee notes, "which could take up to 20 weeks".

The checks will be issued in reverse “adjusted gross income” order, starting with people with the lowest incomes first.

The committee also noted the Treasury and IRS underestimated the number of rebate payments that would be paid out under the CARES Act.

Initial estimates put the number at 171 million, and that 101 million of these payments would be paid by paper check.

"However," the committee writes, "these estimates seem low given the following populations."

The committee then lists several figures which would lead to more individuals needing checks, including the 145 to 150 million taxpayers who file returns below the CARES Act income thresholds and the 25-30 million Social Security beneficiaries and SSI recipients who do not file returns.

Earlier this month, Trump hinted at support for a second round of stimulus checks to help Americans get through the coronavirus crisis.

"I like the concept of it," he told reporters.

The $1,200 checks are part of the CARES Act, the historic $2.2 trillion economic rescue package Trump signed into law on March 27.

Families and qualifying individuals will receive the checks to provide financial relief from the coronavirus outbreak, which has killed more than 50,000 in the US.

Shortly after signing the bill, Trump insisted on having his signature appear on the direct payment checks, which the Secret Service has since said is a "genuine security feature".

The check displays Trump's name below the words "Economic Impact Payment" on the lower left part of the check, next to the Statue of Liberty.

Earlier this week, it was revealed more than one million US citizens have been blocked from getting their coronavirus stimulus checks – because they're married to immigrants.

Legally any family that files taxes with an Individual Taxpayer Identification Number, which the IRS issues to workers who don't have an SSN, cannot receive the stimulus checks — unless one of the couple is part of the U.S. Armed Forces.

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