Eligible Californians can expect tax refunds of up to $1,050, aimed at helping combat rising costs caused by high inflation, arriving as soon as five days.
The state’s Middle Class Tax Refund will be sent out to residents of the Golden State beginning Oct. 7 for those who received either the first or second set of Golden State Stimulus last year via direct deposit.
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The first batch of direct deposit payments will be issued between Oct. 7 and Oct. 25, with the second set being delivered from Oct. 28 to Nov. 14, per the state. For Californians who do not have direct deposit, state-issued debit cards will be mailed from Oct. 25 to Dec. 10 for residents who received either of the Golden State Stimulus payments, with all cards being issued by Jan. 15, 2023.
Payment amounts vary greatly and are dependent on criteria such as yearly income and number of dependents.
On the low end, single filers making between $125,001 and $250,000 with no dependents will receive payments of $200. On the high end, married filers who make $150,000 or less and have dependents will receive payments of $1,050.
Eligible applicants must have been residents of the Golden State for six months in 2020, have filed their 2020 taxes by Oct. 15, 2021, and have earned less than $250,000 a year for single filers or less than $500,000 a year for couples in that year.
A person who was deemed eligible to be claimed as a dependent for taxes in 2020 is ineligible for this specific tax refund program, according to the state.
The state estimates that 95% of all payments will be sent out by the end of 2022, with 90% of all direct deposits being sent by the end of October.
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California and various other states are attempting different solutions to help citizens with rising costs due to high inflation.
