With the number of cases of coronavirus on the rise and many states in lockdown, the resumption of negotiations on stimulus check 2 may be good news for small businesses and low-income people.

On Friday (November 20), Treasury Secretary Steven Mnuchin told CNBC that he and White House Chief of Staff Mark Meadows met with Senate Majority Leader Mitch McConnell (R-Kentucky) and House Majority Leader Kevin McCarthy (R-Calif.) to and said they plan to work on a "targeted bill," or a streamlined stimulus package.

Following his discussions with Republican leaders, Mnuchin said he would next reconvene with House Speaker Nancy Pelosi (R-Calif.) to advance legislation.

"I will meet with Pelosi and Schumer to develop a plan to pass targeted legislation for those who really need it," Mnuchin said. [Such a bill is likely to be less than the $2 trillion revised HEROES bill that Pelosi had been advocating until Election Day. Mnuchin, who represented the Republican side in the negotiations, came close to Pelosi's figure but could not agree with Pelosi on the amount of aid to underfunded states and municipalities or whether to create liability protections for corporations. [Meanwhile, Senate Republicans made it clear that they would not pass any bill over $500 billion. Because the two "skinny" bills introduced in the Senate did not include the provisions of Check 2 of the stimulus package, Democrats rejected these bills by procedural vote.

Mnuchin's announcement today came after weeks of mixed messages about whether another stimulus package would be passed before President-elect Joe Biden takes office in January 2021.

Given President Donald Trump's efforts to challenge the outcome of the presidential election and congressional pressure to pass a federal budget for the coming fiscal year before the December 11 deadline, the fate of the second stimulus package seemed uncertain.

Now, however, the surge in coronavirus cases no longer seems to be a secondary priority for lawmakers. Since the pandemic began, more than 11 million people have been infected and more than 250,000 have died in the United States, with no end in sight.

Small businesses and low-income taxpayers have been waiting for relief since the government passed its first stimulus package and the CARES Act in March. If Mnuchin's comments are any indication, these establishments and people may not have to wait much longer.

As we approach the framework of the second round of the stimulus package, the IRS is sending $1,200 checks and $500 dependent care subsidies to those who have not yet received their first round of benefits.

There are approximately 9 million eligible individuals who have not received the $1,200 stimulus checks provided under the CARES Act, and the IRS has stated that it will be sending letters to those who are eligible, but if you believe you owe a payment, you can use the non-filer tool on IRS.gov to to verify eligibility.

If there are any outstanding payments, be sure to complete the application by November 21. If you do not enter your bank account information so that you can make the direct deposit, you will receive a paper check in the mail instead.