Residents of that state should watch deposits this week
Despite a petition signed by millions, it seems unlikely that the federal government will provide a fourth coronavirus stimulus check. But residents of some states are will still receive more COVID-19 relief money in their bank accounts, despite lack of action from DC lawmakers.
This includes people who:
- Were residents of California for more than half of 2020
- Who are California residents when payments are issued
- Who won less than $ 75,000 in the past year
- Who are not claimed as dependents by other taxpayers
This additional government assistance will take the form of the Golden State Stimulus. For those who qualify, the California Franchise Tax Board recently released a new batch of 1.15 million payments. This brings the total number of payments sent to over 4.4 million.
Here’s what you need to know about California stimulus checks – and if you may be one of the million-plus who will receive those funds this week, or in the weeks to come.
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Stimulus checks come to California residents
California lawmakers have authorized the issuance of a total of $ 12 billion in Golden State stimulus payments under two different programs.
The original Golden State Stimulus payment was for low-income residents. But the relief effort was expanded in July, and now most residents of the state with incomes below $ 75,000 will receive payments. In fact, about 2 in 3 state residents are expected to have already received or will receive stimulus funds in the future.
The expanded payments available for high earners, called Golden State Stimulus II checks, are valued at $ 600 per eligible adult and $ 500 per eligible dependent, with a maximum payment of $ 1,100. At the end of October, the California Franchise Tax Board released 400,000 of these direct deposit payments. And another 750,000 checks were to be issued on Monday, November 1.
If you have already received a payment under the original Golden State Stimulus, you will not receive another from that bundle of payments. But, if it doesn’t and you qualify, you should monitor your bank account or check the mail carefully so that the money arrives in the next few days.
You can use online Golden State stimulation estimator to determine the likely amount of your payment, and you should know that your direct deposit or check will not be sent until your tax return has been processed. If you did not file your tax return until after September 1, you will not receive your payment until at least 45 days after the return is processed.
If you have already filed your 2020 return and meet the conditions, the Golden State Stimulus money should come from the method you used to get your tax refund. You can check your previous return to see if your payment will likely be sent by mail or direct deposit.
This may be the last government stimulus package you get, so be sure to monitor it carefully as the Franchise Council moves forward in the process of sending out the much-needed help.