Here’s everything we know.
The legislation is expected to become final around early to mid-March.
At that point, the IRS will be deep into tax-filing season, which could make it more challenging for the tax agency to process both payments and incoming returns, said Howard Gleckman, senior fellow at the Urban-Brookings Tax Policy Center.
Last year, the first $1,200 stimulus checks were also authorized during tax season. Ultimately, the tax filing deadline was extended to July 15 from April 15 .
Still, the IRS was able to get the bulk of those $1,200 payments out within a few months.
“They did an amazing job, much better than we ever imagined they would do, getting particularly that first round of economic impact payments out,” Gleckman said.