Stimulus Checks 2022: Who Will Receive $1,050 Payments in California Starting This October?

Millions of Californians will be receiving up to $1,050 in one-time payments, with the state refunding taxes as part of their Middle-Class Tax Refund program. The first part of these payments will be released on Friday.

ABC 7 reported that up to 23 million California residents are eligible to receive these tax refunds, which will total $9.5 billion. It is described as the largest tax refund program of its kind in history.

The initiative came as inflation reached historic heights. However, California has managed to get a record $97.5 billion surplus from its budget, so it is getting some of it back to taxpayers as the Golden State finalized its budget earlier this year.

"We know it's expensive right now, and California is putting money back into your pockets to help," said California's Democratic governor, Gavin Newsom. "We're sending out refunds worth over a thousand dollars to help families pay for everything from groceries to gas."

Who Are Eligible To Get This Stimulus Check in California? How Much Will They Receive?

There are still several requirements in order to receive the tax refund. According to CNBC, those who qualify must be a California resident for at least six months or more during the 2020 tax year, and must also be a current resident of the state.

Those eligible should have also filed a 2020 tax return by Oct. 15, 2021. Their adjusted gross income should also be within the required thresholds. In addition, those who qualify should not be claimed as dependent by someone else.

California has also announced that qualifying individuals can receive between $200 to $700. Meanwhile, couples who filed their taxes jointly can receive from $400 to $1,050. The amount of money received is based on two factors, namely the income that the taxpayer has and the number of dependents.

To receive the highest amount, which is worth $1,050, the married couple must have a joint income of $150,000 or less, and have a dependent. A couple in that category with no dependent will only receive $700. Individual taxpayers who have a dependent but earn $75,000 or less are eligible to receive $700.

However, not everyone is qualified to receive these payments as Those with incomes of up to $500,000 for couples and $250,000 for individuals will not receive a stimulus payment.

California Stimulus Check Payments Have Now Begun

According to a report by CBS News, these stimulus checks will begin arriving on Friday, October 7. As for those people who receive direct deposits, around 90% of them will receive their payments by the end of October, according to the California Franchise Tax Board.

Meanwhile, those who included their bank account information in their 2020 tax returns will get a direct deposit instead of a check. As for those who included their addresses but have no bank account listed will receive a debit card instead.

This article is owned by Latin Post.

Written by: Rick Martin

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