CALIFORNIA residents are due for a new “golden stimulus” payment of $ 1,100 expected to hit bank accounts this week.
The payments, which are the second set of checks to be given to state taxpayers, are worth $ 600 each, with an option to receive an additional $ 500 by claiming a dependent.
Over 750,000 checks will be mailed starting next Monday and it may take up to three weeks for people to receive them.
California sent about 4.5 million checks – for a total of more than $ 3.2 billion under the plan.
This latest round will see up to $ 857 million distributed.
The checks will come in the form of direct deposit or paper checks in the mail, depending on the repayment option you choose on your tax returns.
According to the California Franchise Tax Board, direct deposits are issued on October 29 and checks mailed from November 1.
To be eligible for dunning checks, the following must apply to you, according to the tax office:
- You must file your 2020 taxes before October 15, 2021
- Have a California Adjusted Gross Income (CA AGI) of $ 1 to $ 75,000 for the 2020 tax year
- Have a salary of $ 0 to $ 75,000 for the 2020 tax year
- Be a California resident for more than half of the 2020 tax year
- Be a California resident on the date the payment is issued
It comes as millions of families are also expected to receive two more child tax credit payments for the remainder of this year.
The next child tax credit payment is Monday, November 15, with the deadline for withdrawing payments being November 1.
Read our live blog on Stimulus Controls for the latest updates on relief from Covid-19 …
Each child under the age of six is eligible for a maximum of $ 300 per month, while children between the ages of six and 17 are eligible for a maximum of $ 250 per month.
While parents with children 18 and older are not eligible for a monthly payment, they could receive a one-time annual payment of $ 500 in 2022.
For a single-taxpayer household, your Adjusted Gross Income (AGI) must be $ 75,000 or less to be eligible for the full amount of the tax credit.
If you are married and filing jointly, your AGI must be $ 150,000 or less to be eligible for the full amount.
And if you are the head of a household, your AGI must be $ 112,500 or less to receive the full tax credit.
The payments were made earlier this year as part of President Biden’s U.S. Plan for Families.
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