Stimulus update: Direct payments worth $1,050 to arrive Saturday
Asher Notheis
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A group of California residents is receiving payments Saturday that could be over $1,000 from a state program.
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.
DEMOCRATS NOT WAITING FOR FEINSTEIN IN CALIFORNIA SENATE RACE
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.
About 7,020,930 refunds have been distributed to recipients from this refund, totaling more than $8.7 billion. A total of 30,612,921 California taxpayers and their dependents have benefited from this program as of Jan. 6.
The group of recipients began receiving refunds on Dec. 17 of last year. After this round of payments is sent out, 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 returns, who 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.