Stimulus update: Direct payments worth $1,050 to be issued within eight days
Asher Notheis
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In just over a week, the latest round of payments, which could be worth upward of $1,000, to a group of California residents will be completed.
The Middle Class Tax Refund has been giving recipients money since October 2022. All of the recipients are people who filed their 2020 taxes by October 15, 2021. The latest recipients to receive their payments are people who received their 2020 tax refund via direct deposit and have since changed their banking information after filing their 2020 tax return, according to California’s Franchise Tax Board.
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These recipients began receiving their refunds on Dec. 17 of last year, and all of the refunds for this group will be distributed by Jan. 14.
To get the full refund 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; it 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.
The only remaining group of people who are still waiting for their payments are debit card recipients who have changed their address since filing their 2020 tax return. They will receive their payment sometime between Jan. 30 and Feb. 14.
A total of 7,020,930 refunds have been distributed to recipients from the Middle Class Tax Refund totaling over $8.7 billion given to people as of Dec. 30.
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Additional information can be found by visiting California’s Franchise Tax Board’s website or by calling 800-542-9332.