Stimulus update: Direct payments worth $1,050 to be given within five days
Asher Notheis
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The latest round of payments for a group of California residents, who could be paid over $1,000, will all be issued by the end of the week.
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 Oct. 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 the California Franchise Tax Board.
These recipients began receiving their refunds on Dec. 17 of last year, with all recipients in this group set to receive their refunds by Saturday.
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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; 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.
A total of 7,020,930 refunds have been distributed to recipients from this refund, totaling over $8.7 billion as of Dec. 30.
Once this round of payments is complete, the only remaining group of people who still await 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.
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Additional information can be found by visiting the California Franchise Tax Board’s website or by calling 800-542-9332.