Stimulus update: Final wave of refund payments worth up to $1,050 to be issued within 12 days
Asher Notheis
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California taxpayers only need to wait less than two weeks before the final wave of the state’s Middle Class Tax Refund is paid out to all recipients.
These payments have been issued to eligible California residents since October of last year, with all of the recipients being taxpayers who filed their 2020 taxes by Oct. 15, 2021. This final wave of payments, which will be paid to all recipients by Feb. 14, will be made in the form of a debit card and will be for recipients who have changed their address since filing their 2020 tax return, according to California’s Franchise Tax Board.
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To get the full payment of $1,050, married or joint filers must have had an adjusted gross income of $150,000 or less for the 2020 tax year. The smallest amount of money that one can receive from this refund will be $200, which will be given to single filers who had an adjusted gross income between $125,001 and $250,000 for the 2020 tax year and who do not have dependents.
Anyone with an adjusted gross income of over $500,000 is not eligible to receive a payment from this refund.
The tax board recommends recipients allow up to two weeks to receive their debit card in the mail.
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A total of 31,650,087 California taxpayers and their dependents have benefited from this refund, with over $9 billion being issued to recipients from these payments as of Jan. 13.
Additional information can be found by visiting the California Franchise Tax Board’s website or by calling 800-542-9332.