Golden Staters have begun seeing up to $1,050 deposited in their accounts thanks to the state’s Middle Class Tax Refund approved at the end of June. The California Franchise Tax Board (CFTB) will be issuing the direct inflation relief payments through to mid-January.
The payments will be made as either a direct deposit or come as a debit card scheduled to arrive depending on how a tax return was filed, how the taxpayer received their refund and whether or not they received a Golden State Stimulus payment along with other factors. Here’s a look at when you can expect your payment.
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When California inflation relief direct deposit payments will arrive
There are two categories of direct deposit recipients, those who got a Golden State Stimulus payment (GSS I or II) and those who did not. Note, there are some taxpayers under certain situations who e-filed and normally receive their refund via direct deposit that will be receiving a debit card. More on that later.
Those that received a GSS I or II will see their payment issued between 7 October and 25 October 2022. The CFTB will issue payments to non-GSS recipients from 28 October through 14 November 2022.
The California tax authority advises that “direct deposits typically occur within 3-5 business days from the issue date but may vary by financial institution.”
When California inflation relief payments will arrive as debit cards
Residents who filed a paper 2020 tax return will be sent a debit card along with others. While generally Golden Staters who e-filed their 2020 tax return and get their tax refund via direct deposit will see the California inflation relief payment put straight into their bank account, there are some instances when this will not be the case.
Residents will be issued a debit card instead if they had a balance due, received their Golden State Stimulus via paper check, get their refund via paper check regardless of filing method or have since filing their 2020 tax return changed their account information. Additionally, those that received an advance payment from their tax preparer or paid fee to the tax service provider using their tax refund.
Debit cards will be issued to Californians based on the first letter of their last name, whether the received a GSS I or II payment and those who changed their account information since filing their 2020 tax return. The tax authority advises allowing up to 2 weeks from the issue date for the debit card to arrive by mail.
Around 95 percent of payments to the roughly 23 million eligible Californians are expected to issued by the end of the year.
| Recipients | Debit card mailing timeframe |
|---|---|
| GSS I or II check recipients (last name beginning with A – E) | 10/24/2022 through 11/05/2022 |
| GSS I or II check recipients (last name beginning with F – M) | 11/06/2022 through 11/19/2022 |
| GSS I or II check recipients (last name beginning with N – V) | 11/20/2022 through 12/03/2022 |
| GSS I or II check recipients (last name beginning with W – Z) | 12/04/2022 through 12/10/2022 |
| Non-GSS recipients (last name beginning with A – L) | Will be announced after 11/07/2022 |
| Non-GSS recipients (last name beginning with M – Z) | Will be announced after 11/21/2022 |
| Direct deposit recipients who have changed their banking information since filing their 2020 tax return |
12/17/2022 through 01/14/2023 |
Income limits for the Middle Class Tax Refund
The three-tier program, called the Middle Class Tax Refund, will benefit around 23 million California taxpayers, with the amount that each taxpayer gets determined by income and whether they have a dependent.
Under the tax rebate plan, Californians earning as much as $75,000 for individuals or $150,000 for joint filers would receive $350 per taxpayer, plus an additional $350 if they have at least one dependent. A single parent would therefore receive $700 and two-parent families would receive $1,050.
The amount would decrease to $250 per taxpayer for households making as much as $125,000 for individuals or $250,000 for joint filers, and to $200 per taxpayer for households making as much as $250,000 for individuals or $500,000 for joint filers. In both of these tiers, parents would receive an additional $250 or $200, respectively, if they have at least one dependent.
People making more than $250,000 or $500,000 for joint filers will not receive a rebate.
Eligibility for the California Middle Class Tax Refund
Besides meeting the California adjusted gross income limits mentioned above there are other some other requirements to receive the Middle Class Tax Refund.
These include having filed a 2020 California tax return by 15 October 2021. As well, in the 2020 tax year you were not eligible to be claimed as a dependent and were a resident of California for at least six months that year. Finally, you must be a California resident on the date the payment is issued.
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California inflation relief checks: if it’s a direct deposit or a debit card payment & when it will arrive? - AS USA
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