Some Californians may have more time to receive their inflation relief money.
All direct deposits have been issued since November. 14, but more debit cards still need to be shipped, according to the California Franchise Tax Board. Debit card recipients whose addresses have changed since filing their 2020 tax return could receive their debit cards between January. 30 and February 14.
The middle class tax refund program, or inflation relief program, aims to pay $9.5 billion to eligible Californians. Refund payments range from $200 to $1,050, depending on the filing status of your 2020 income tax returns and whether you claimed dependents.
“Some people qualified for a direct deposit payment but were not part of the initial wave, which ended on November 14 last year,” said a spokesman for the Board of Taxation of Franchises, according to KTLA-TV Channel 5. “The majority of all direct deposits were issued then. However, some payments require further review and will be issued or will be issued later. We anticipate that 460,000 payments will be issued of additional MCTR direct deposit later this week.”
Last week, more than 7 million people received direct deposits and at least 9 million were issued debit cards, according to the latest information from the state Franchise Tax Board.
One-time payments range from $400 to $1,050 for couples who file their 2020 state income tax return jointly, and from $200 to $700 for individuals who submit a separate declaration. Eligible residents must meet the state’s adjusted gross income limits and have filed their 2020 tax return by October. 15, 2021.
Prices have risen 6.5% over the past 12 months, according to the latest data available from the Bureau of Labor Statistics. While the consumer price index for all urban consumers fell overall by 0.1% in December, food prices rose by 0.3%. The energy index also fell 4.5% during the month, but other energy indices rose.
You can check your eligibility and calculate your total payment amount with the Franchise Tax Board’s refund estimator.
1. Do I qualify for money through the California middle class tax refund?
Requirements for eligible Californians to receive their payments include:
- You already filed your 2020 tax return in October. 15, 2021.
- Not being claimed as a dependent on your AGI.
- Earn $500,000 or less in adjusted gross income.
- You are a California resident on the date the payment is issued and have been a California resident for at least six months during the 2020 tax year.
2. How will I receive my payment?
The type of payment will depend on how the 2020 tax return was filed:
- If you filed your 2020 tax return electronically, you should have received a direct deposit electronically into the same bank account where your 2020 tax return was deposited.
- If you filed your 2020 tax return with a paper form, you should get a physical debit card.
- If you filed your 2020 income tax return electronically but have since changed your bank or bank account number, you will get a debit card.