California Middle Class Tax Refund Payments Go Out Starting Friday. See How Much You’ll Get
The Middle-Class Tax Refund program in California will provide up to $1,050 to millions of residents who qualify. On Friday, the first installments will be dispersed. About 23 million taxpaying California citizens qualify, with higher earners receiving smaller amounts.
The payments, which are actually tax refunds, are intended “to help address rising costs,” as stated by Gov. Gavin Newsom’s office. In June, when petrol prices were at an all-time high of $7 a gallon or higher, Newsom and state lawmakers worked up a plan to provide rebates to drivers.
Are You Eligible?
You must have filed your 2020 tax return by October of last year and had an annual income of less than $150,000 to qualify. If you meet the requirements, you don’t need to do anything. There is no need to fill out an application to receive your reward.
Visit the state’s website and look for “Middle-Class Tax Refund.”
When will you receive your payment?
Direct deposit into a bank account or a debit card will be granted to qualified California residents, per the state’s Franchise Tax Board’s website. Bank account direct deposits are scheduled to occur between the dates of October 7, 2022, and October 25, 2022, and October 28, 2022, and November 14, 2022.
In October of 2022, state officials indicated they anticipate issuing roughly 90% of direct payments. Credit or debit cards will be sent out between October 25 and December 10, 2022, with the remaining recipients getting theirs by January 15, 2023. Direct deposits and debit card disbursements are expected to account for almost 95% of all payments, according to state officials.
Which employees will obtain a debit card and which will receive direct deposit?
CALIFORNIA RESIDENTS CHECK YOUR BANK ACCOUNTS FOR MIDDLE CLASS TAX REFUND STARTING OCTOBER 2022 TO JANUARY 2023…JUST GOT MINE TONIGHT…
— Mr. OG Raider🏴☠️ 1-3 (@MrOGRaider) October 7, 2022
The majority of California tax refunds in 2020 will be paid electronically via direct deposit to filers who submitted their returns online. The California Franchise Tax Board specifies that the remaining qualified taxpayers would receive their payments through debit cards.
You will receive your payment by mail in the form of a debit card if you:
- Filed a paper return
- a balance due
- Received your Golden State Stimulus payment by check
- Received your tax refund by check regardless of filing method
- Received your 2020 tax refund by direct deposit, but have since changed your banking institution or bank account number
- Received an advance payment from your tax service provider, or paid your tax preparer fees using your tax refund
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