If you’re waiting to receive your middle class tax refund, also known as an inflation stimulus check, you’ll need to consider the requirements the California Tax Board (FTB) must meet to send it to you.
Although the checks were scheduled to be delivered between October 2022 and February 2023, there are still 5,000 people on the waiting list. According to the FTB website, approximately 7.2 million direct deposits were made and 9.6 million preloaded debit cards were issued through the mail, worth a total of $9.2 billion.
Taxpayers who have not yet made payments can receive their payments no later than the end of September and the first week of October 2023.
WHAT YOU NEED TO RECEIVE YOUR INFLATION REFUND IN CALIFORNIA
The FTB said payments are still outstanding to 5,000 taxpayers whose cases require further review. To qualify for the middle class tax refund, you must:
- File your 2020 tax return by October 15, 2021
- Meet California Adjusted Gross Income (CA AGI) requirements.
- You were not eligible to be claimed as a dependent in the 2020 tax year
- Be a California resident for at least six months of the 2020 tax year
- You must be a California resident at the time of withdrawal.
- You have received your Golden State Stimulus (GSS) payment by check
- Regardless of the filing method, you received your tax refund by check
- You received your 2020 tax refund via direct deposit, but have since changed your banking institution or bank account number
- You received an advance payment from your tax service provider or paid your tax preparer’s fees with your tax refund
- Do you owe a balance.
How much stimulus check will the state of California provide?
According to the California Franchise Tax Board, the amount depends on your adjusted gross income and whether you have dependents.
- If the return was $150,000 or less: You pay $700 and $1,050 (with dependents).
- If the return was $1,150,001 to $1,250,000: You pay $500 and $750 (with dependents).
- If the return was $1,250,001 to $1,500,000: You pay $400 and $650 (with dependents).
Head of household or surviving spouse
- If the return was $150,000 or less: You pay $350 and $700 (with dependents).
- If the return was $1,150,001 to $1,250,000: You pay $250 and $500 (with dependents).
Single or married/RDP filing separately
- If the return was $75,000 or less: You pay $350 and $700 (with dependents).
- If the return was $75,001 to $125,000: You pay $250 and $500 (with dependents).
- If the return was $125,001 to $250,000: You provide $200 and $400 (with dependents).
HOW IS THE INFLATION STIMULUS CHECK PAYMENT?
If you haven’t received your middle class tax refund in California yet, it can come in one of two ways. The California Tax Board (FTB) has indicated that economic incentives can benefit you in two ways:
- Direct Deposit: The account where you receive your refunds.
- Debit cards: These are sent by post, so keep an eye on your mailbox.