- Millions of US residents will receive payments of up to $1,050.
- Find out the exact date.
- This week the second phase of the program will start.
MORE MONEY IN JUST A FEW DAYS! Millions of US residents will receive payments of up to $1,050 THIS WEEK. Officials have revealed the exact date when the money will arrive in their bank accounts.
California approved relief checks for up to $1,050 for more than 23 million residents and the state Franchise Tax Board said the money would be distributed in several phases. This week the second phase will start.
Millions to receive payments of up to $1,050 THIS WEEK
Officials issued the first batch of payments starting on October 7 until this Tuesday, October 25. Now they have announced they will issue the next batch of direct deposits starting this Friday October 28 through November 14.
How can you tell when your check will arrive? The Tax Board explained that the first group of refunds was directed to those residents who received the first or second round of Golden State Stimulus payments via direct deposit.
How will you receive your payment? It depends on how you filed your taxes
Californians who filed their state tax return electronically and received their tax refund through a direct deposit will receive this payment of up to $1,050 dollars in the same way, through a direct deposit.
Those residents who received Golden State Stimulus payments last year on a debit card will have to wait for a new debit card to arrive in the mail. Stay tuned, because officials indicated that they will be sending them between October 25 and December 10.
Payments for some stragglers
Finally, any residents who changed their bank information or address after they filed their tax return, will see their payments a little later. Officials in California said they will mail these payments between December 17 and January 14, 2023.
This group is really small, since the Franchise Tax Board expects to have distributed 95% of the payments by the end of 2022. This program of tax refunds for the middle class will cost the state of California about $9.5 billion, according to The Sun.
Who is eligible and how much money will they receive?
To qualify, Californians must have filed their 2020 tax return by October 15, 2020. They must also have lived in California for at least six months in 2020 and still be a resident of the state. If you meet the requirements then you will receive a payment of between $200 and $1,050.
The exact amount of the refund each taxpayer will receive depends on the California adjusted gross income (AGI) they reported on their 2020 tax return. For example, a couple with a dependent who reported joint income of up to $150,000, can opt for the maximum payment of $1,050 dollars. CALCULATE YOUR REFUND HERE