#When will the second stimulus checks arrive? What we know

After nearly nine months and seemingly endless negotiations in Washington, millions of Americans could soon get a second stimulus check.

Congressional leaders unveiled a roughly $900 billion stimulus deal on Sunday that calls for another round of direct payments to help Americans get through the coronavirus pandemic.

The $600 checks are half as large as the $1,200 payments lawmakers approved under the CARES Act in late March, but they could still offer many Americans a short-term financial lifeline within weeks.

Here’s what is known about the second round of checks and what the rollout could look like based on the text of the stimulus bill released Monday and the earlier distributions.

Who is eligible for another stimulus check?

Similar to the CARES Act, the latest stimulus deal will distribute $600 payments to individual taxpayers earning up to $75,000 a year or married couples with annual incomes up to $150,000.

People with incomes above those limits will receive smaller amounts. Just like the CARES Act, the latest bill will reduce high earners’ checks by 5 percent of the amount by which their adjusted gross incomes exceeded the initial threshold. It means, for example, that an individual making $80,000 would get a check for $350.

Households will also get up to $600 for each dependent child, an increase from $500 under the CARES Act, meaning a family of two adults and two children could get as much as $2,400 in stimulus money. But dependents who are 17 or older reportedly won’t qualify.

Lawmakers did agree to allow about 1.2 million American citizens who are married to undocumented immigrants to collect the new checks, which the CARES Act prohibited, according to the New York Times.

When will I get my stimulus check?

The timeline for distributing the checks isn’t yet certain because Congress hasn’t actually passed the bill, which lawmakers are expected to vote on Monday. But the money could start moving fast if the CARES Act is any indication.

The Treasury Department began delivering payments to more than 80 million taxpayers in mid-April, roughly two weeks after the CARES Act was passed. The process could be even quicker this time around — Treasury Secretary Steven Mnuchin said Monday that checks could start landing in bank accounts early next week.

“People go out and spend this money, and that helps small business and that helps getting more people back to work,” Mnuchin told CNBC. “So it’s very fast, it’s money that gets recirculated in the economy.”

People who submitted their bank account information to the Internal Revenue Service with their 2018 or 2019 income tax returns would likely be first in line because the feds could deposit the checks right into their accounts.

The 14 million people who submitted their banking info to the IRS earlier this year to collect their first stimulus checks may also get their second payments quickly, but the Treasury hasn’t definitively said whether it will reuse banking details it’s already collected, according to CNBC.

The process of rolling out the first stimulus checks was plagued by glitches in the spring, such as payments going into the wrong bank accounts and being delivered to dead people. But one IRS official has said the agency would be “better positioned” to distribute another round of checks than it was in April.

“The infrastructure is already in place to administer such a payment,” Chad Hooper, president of the Professional Managers Association, which represents IRS managers, told CNBC in August.

With Post wires