In the coming weeks, some California families could be getting up to $1,050 to help ease the impacts of inflation. The earliest payments are expected to arrive by direct deposit as early as Oct. 7.
However, the payments carry some controversy. Some lawmakers think the payments don’t go far enough and others think it’s too much. Nonetheless, roughly $9.5 billion will be heading 17 million California households in a matter of weeks.
Here’s what to know about the payments to make sure you get your money.
Who gets the stimulus checks?
Here’s the criteria to qualify for the payments:
Filed your 2020 taxes by Oct. 15, 2021
California resident for more than half of 2020 tax year
Not claimed as dependent
Live in California now
However, these qualifications can vary depending on whether you are claiming dependents. Those who are married and filing jointly or are the head of the household need to make less than $500,000 a year. People who are single or married and filing separately need to make less than $250,000.
How much will your payment be?
How much a person will get depends on a number of factors, but the amount will be based on their 2020 tax return. Some families might be getting up to $1,050 and other individuals might be getting around $200.
Charts from the Franchise Tax Board outline some of the options available and the varying amounts.
Ranges for people that are married and filing jointly can vary from $400 to $1,050. It depends on how much was reported on their tax return and whether they have a dependent.
People filing as head of household or surviving spouse can have payments ranging between $200 and $700, again depending on reported income and whether a dependent is claimed. The range is the same for all other individuals as well.
For a more detailed chart, view the Franchise Tax Board charts. If you want a more customized estimate, use this calculator to estimate what your payment may be.
Write a Reply or Comment
You should Sign In or Sign Up account to post comment.