These stimulus checks provide relief for groceries, gas prices, rent, and other basic needs in times of record-high inflation. The additional funds arrive at just the right moment since they will offset the lack of other incentives that came from earlier in the COVID-19 pandemic and are now set to expire.
Monthly advances and checks will start arriving in bank accounts and mailboxes in hours or days for eligible people and families in certain states. Here is information on the stimulus programs, how recipients qualify for the payments when they can expect their checks or deposits, and where the money comes from.
For you to be able to receive this rebate, you must have filed your 2022 taxes by October 15, 2023, and you must reside in California for at least six months in the year of the filing of the tax return. Your federal adjusted gross income has to be $250,000 or less in case of a single return and $500,000 or less in case of a joint return.
The payments are aimed to cover increased expenses that residents of California may have due to the high inflation rates – from rising gas, food, and housing costs. The state believes that more than 1 million individuals will benefit from the stimulus checks by receipt of the payments.
When Will You Receive The Money? Check Out The Payment Dates
The second batch of stimulus checks worth $1200 will be distributed at the end of May to thousands of Americans. The state of California has introduced another round of stimulus payments to cushion the side of lower-income earners.
The payments are supposed to begin being distributed on May 25th, with most residents receiving them by the end of the month. The California Franchise Tax Board that is charged with the responsibility of distribution is willing to issue direct deposit payments or debit cards.
Eligibility Criteria
To qualify for the $1,200 payment, individuals must meet specific income thresholds based on their Adjusted Gross Income (AGI) from their most recent tax return. The eligibility criteria are as follows:
- Single Filers: Must have an AGI of up to $75,000 to receive the full payment.
- Heads of Household: Those earning up to $112,500 can also receive the full amount.
- Married Couples Filing Jointly: A combined income of up to $150,000 qualifies for a total payment of $2,400.
Payments will decrease for incomes exceeding these limits, with reductions of $5 for every $100 over the threshold. Additionally, U.S. citizens and resident aliens, including seniors and disabled individuals receiving Social Security benefits, are eligible for these payments.
