Second Stimulus Check: Why January 15 Is So Important

As the suspenseful second stimulus check negotiations drag on, Jan. 15, 2021, looms as an important deadline to keep in mind. If Trump vetoes this bill, Congress has enough bipartisan support for it to override his decision and pass it anyway, although it would delay the process further. However, according to a report by CNET, the stimulus check from this bill would need to be delivered by Jan. 15, so Trump could simply wait out that expiration date.

This $900 billion bill stipulates that the IRS has until Jan. 15 to deliver a stimulus check to every eligible American, regardless of when the bill gets passed. That means that if you don't receive a check by then, it will not be coming at all, even if you are eligible. At that point, according to CNET, qualifying Americans will need to claim the missing stimulus check in their 2021 tax filing through the Recovery Rebate Credit. That means further delays for financial relief in the midst of a global pandemic and recession.

Experts speculate that those who have direct deposit information on file with the IRS are not in danger of falling between these particular cracks. Once the bill is passed, the agency will likely pay out those digital checks automatically, while the mailed paper checks will take much more time. Back in the spring, it took the IRS about two months to get all those payments in the mail, and the USPS has been hit hard by cutbacks since then.

If this is the situation that plays out, Americans can find instructions from the IRS to claim all or part of a missing stimulus check on their next tax filing. That is also the case for the first round of stimulus checks, which will be coming belatedly to many eligible Americans in 2021 if they claim them properly.

Of course, this is all assuming a second stimulus check passes at all. According to a report by The Hill, Congress could override a direct veto from Trump, but it might not be able to stop a "pocket veto." All that would take would be for Trump to ignore the bill altogether, leaving Congress with no way to refute him while they are out of session.

Trump has been complaining that this bill provides too small of a stimulus check at $600, though his administration has been directly involved in brokering this agreement over the last eight months. Trump is calling for a $2,000 stimulus check, which Democrats support but Republicans have blocked.

Congress passed this stimulus bill to hold the American people over, acknowledging that in 2021 another large-scale stimulus bill will likely be needed. President-elect Joe Biden is expected to push for such financial aid when he takes office.