California Middle Class Tax Refund: Are You Eligible to Get up to $1,050 Payments? When Will You Get Your Money?
Californians are expecting the California Middle Class Tax Refund to continue through mid-January next year. The state's taxpayers started receiving inflation relief checks last October.
However, millions more residents are waiting for the one-time payment, which can be up to $1,050. The amount you receive depends on your income, residency, filing status, and household size.
More than 6.9 million direct deposits have been issued, and 6.8 million debit cards have been sent out as of December 9, according to the Franchise Tax Board (FTB).
However, officials noted that they do not expect to finish sending out funds until January 14.
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California Middle Class Tax Refund Eligibility
To be eligible for California Middle Class Tax Refund, interested applicants must have filed their 2020 tax return by October 15, 2021.
They should also meet certain income limits and not be claimed as a dependent in the 2020 tax year.
Individuals who made more than $250,000 in 2020 and couples who earned over $500,000 combined are not eligible for the refund.
Applicants must also be California residents or have lived in the state for at least half of the 2020 tax year.
In addition, you must still be a resident of the state on the date the Middle Class Tax Refund payment is issued.
Some people who thought they would receive a direct deposit might receive a debit card through the mail.
People who changed their banking information since filing their 2020 tax return or have yet to set up direct deposit will likely receive a Money Network debit card in the mail.
Residents who filed a paper return, had a balance due, received Golden State Stimulus by check, and tax refund by check will also receive a debit card in the mail.
Residents who received money from either round of Golden State Stimulus payments were the first to receive direct deposits before October 25.
The remainder of direct deposits were issued between October 28 and November 14. According to the FTB, debit cards will be mailed between December 17 and January 14 next year.
The FTB noted that it expects 95% of all California Middle Class Tax Refund payments, both direct deposit and debit cards, to be issued by the end of the year.
California Middle Class Tax Refund
California lawmakers decided to send tax refunds to low and middle-income taxpayers to help ease the pain of inflation.
California Governor Gavin Newsom's office previously released a statement saying that the direct payments were designed to "help address rising costs."
Recipients will receive between $200 and $1,050 from the relief checks, which will be deposited directly to their bank accounts as a tax refund.
California State Controller Betty Yee noted that inflation had forced many to cut corners or make impossible choices. Yee added that pain at the pump had been compounded by the return of the commute for many Californian residents.
Some Californians have reportedly thrown out or destroyed debit cards after receiving them for mistaking them as junk mail or scams.
The FTB noted that any cards lost or ruined in haste can be replaced by contacting Money Network, which handles the debit cards.
The FTB added that it also created a page on its site to help eligible residents accurately identify their debit card payments.
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This article is owned by Latin Post.
Written by: Mary Webber
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