Inflation Relief Payments: Here's Why You Haven't Received Your $1,050 Cash Yet
Inflation relief payments in California are being expected by more than 23 million Californians eyeing direct deposits or checks of up to $1,050.
The California payments are made possible after lawmakers approved the Middle-Class Tax Refund in June. It is a direct response to inflation affecting residents, seeing gas prices over $6 per gallon.
NBC San Diego reported that many have not received their inflation relief payments and the probable cause could be the scheduling of the deposits of the relief payments.
Some will be getting the payments soon, with officials noting that about 90% of direct deposits are expected to be issued the relief payments within the month. For some, they will need to wait until after October 28, if they did not get a Golden States Stimulus Check last year.
The state also noted that direct deposits usually happen within three to five business days from the issue date. However, this may vary depending on the recipient's bank.
In addition, if you have not received a direct-deposit refund from California last year, the state will be sending a debit card to you first. However, mailing debit cards is scheduled between October 21 and December 10. In addition, snail mail arrives in up to two weeks.
California Payments Deposit
State Franchise Tax Board spokesman Andrew LePage said that 2.1 million is expected to be paid out by this week. LePage added that about eight million deposits will be done by November 14.
The Franchise Tax Board asks Californians' patience, saying that the California payments cannot be accelerated by contacting the agency, according to a KTLA News report.
The agency has already sent out about 700,000 payments. All of which were distributed through direct deposit.
The inflation relief payments range from $200 to $1,050 depending on three determining factors such as the applicants' income, tax filing status, and whether or not they have dependents.
The FTB noted that Californians who meet all eligibility criteria do not need to do anything to receive their payments.
A household becomes ineligible to receive a payment once they make more than $500,000 in their gross income.
Inflation Relief Payments California
The inflation relief payments are part of a $12 billion relief effort that aims to fund millions of Californians as they struggle with global inflation and rising prices of basic goods.
Single taxpayers who earned less than $75,000 and couples who filed jointly and made less than $150,000 will receive $350 per taxpayer and an additional $350 if they have dependents, as reported by CNET.
Meanwhile, individual filers who made between $75,000 and $125,000 and couples who earned between $150,000 and $250,000 will receive $250 and an extra $250 if they have any dependents.
Those earning $125,000 and $250,000 as individual filers and $250,000 and $500,000 as joint filers will receive $200.
If you failed to file a complete 2020 tax return by Oct. 15, 2021, you will be ineligible for a rebate.
FTB noted that the final distribution of the inflation relief payments will be on Jan. 15, 2023.
READ MORE: Stimulus Check 2022: $250 Payments in New Mexico Coming Soon, Delayed Rebates Being Resolved
This article is owned by Latin Post.
Written by: Mary Webber
WATCH: California inflation relief checks could total $1,000 per family - from ABC 10