If you are Californian and qualify for inflation relief but haven’t acquired a payment yet, it should be reaching your way soon.
Last year on July 2022, Governor Gavin Newsom signed a $308 billion state budget that included inflation relief compensations for millions of Californians, focusing on lower- and middle-income residents. Back in May 2022, the governor announced the checks are tax refunds that have been drawn from the state’s almost $100 million surplus.
Over 29 million taxpayers and their dependents had benefited from the Middle-Class Tax Refund from the state of California, as of Dec. 23, 2022 Yet, there are still expenses coming for certain people this month.
Now, who is eligible to receive an Inflation Relief Payment?
Payments are based on income, tax filing status, and
whether you have a dependent. Not all Californians qualify to obtain payment.
Here’s a breakdown:
- Single taxpayers who earn less than $75,000 per year and couples who file jointly and make less than $150,000 yearly are slated to receive $350 per taxpayer. Taxpayers in these earning brackets who have at least one dependent are slated to receive an extra lump sum of $350, regardless of how many dependents they have.
- Singles and couples who are higher-earners, earning between $75,000 and $125,000 and $150,000 and $250,000, will receive $250 per taxpayer and a $250 lump sum for their dependents, which equals a maximum of $750.
- Singles who are earning between $125,000 and $250,000, and couples earning between $250,000 and $500,000 annually, will receive $200 per taxpayer and a lump sum of $200 for dependents, which equals a maximum of $600.
Also, meet these additional credentials:
- Filed a 2020 tax return by Oct. 15, 2021.
- Have not been received as a dependent on the tax year, 2020.
- Have been a California resident for at least six months in the 2020 tax year, and be a resident of the state on the date the relief payment is given.
Who should expect to receive an Inflation Relief Payment this month?
Two groups are still waiting to receive their payment, as of the new year:
- According to the information posted on the state of California’s MCTR website, the first is the Middle-Class Tax Refund direct deposit recipients who made changes to their banking information since filing their 2020 tax return and will receive a debit card. Debit cards are to be mailed between December 17, 2022, and January 14, 2023.
- According to the state’s MCTR website. Although MCTR debit card payments for Californians who received GSS I and II were mailed between October 24, 2022, and December 10, 2022, debit cards will be mailed by January 14, 2023, if you fall in this category and have not received your payment.