LOS ANGELES - In less than 24 hours, millions of eligible Californians will be getting some extra money in the bank from the state in an effort to help combat the rising costs of pretty much everything from gas prices to food.
Starting Oct. 7, those eligible will begin to receive the inflation relief payments. How much you receive will be based on your income, residency, filing status, and household size.
Here's everything else you need to know.
Who gets it first?
The first group to get their hands (or bank accounts) on the Middle Class Tax Refund will be Californians who received the Golden State Stimulus payments (either the first or second round) via direct deposit. If that's you, you can expect a payment to your bank account between Oct. 7 and Oct. 25.
Am I eligible?
In addition to meeting income requirements, residents must have filed their 2020 tax refund by Oct. 15, 2021, have lived in the state of California for at least half of the 2020 tax year and still be California residents on the date the payment is issued.
You also cannot have been claimed as a dependent by someone else in the 2020 tax year.
How much will I get?
The exact figure Californians will pocket depends on several factors including adjusted gross income, filing status, and dependents.
Single people who make less than $75,000 per year will receive $350 and joint filers who make less than $150,000 per year would get $700 plus an extra $350 for a dependent. Here's a breakdown:
- AGI of $150,000 or less: $1,050 with dependent or $700 without
- AGI $150,001 to $250,000: $750 with dependent or $500 without.
- AGI of $250,001 to $500,000: $600 with dependent or $400 without.
Head of Household
- AGI of $150,000 or less: $700 with dependent or $350 without.
- AGI of $150,001 to $250,000: $500 with dependent or $250 without.
- AGI of $250,001 to $500,000: $400 with dependent or $200 without.
Those who file single
- AGI of $75,000 or less: $700 with dependent or $350 without.
- AGI of $75,001 to $125,000: $500 with dependent or $250 without.
- AGI of $125,001 to $250,000: $400 with dependent or $200 without
Single filers making more than $250,000 and joint filers making more than $500,000 are not eligible for payments.
- California inflation relief payments: Here's when you'll get the money
- California inflation relief refund: Here's who's eligible for payment
- Millions of Californians could get $1,050 'inflation relief' checks from government: Do you qualify?
You can estimate your refund using the Franchise Tax Board website calculator.
Will I get a debit card or direct deposit?
You'll get direct deposit if…
- You received the first or second Golden State Stimulus (GSS I and II) via direct deposit.
- If you filed electronically and you received a tax refund by direct deposit.
You'll get a debit card if…
- You filed a paper return.
- You had a balance due.
- Received your Golden State Stimulus payment by check.
- Received your tax refund by check regardless of filing method.
- Received your 2020 tax refund by direct deposit, but have since changed your banking institution or bank account number.
- Received an advance payment from your tax service provider, or paid your tax preparer fees using your tax refund.
If I'm not in the first batch, when will I get mine?
All other direct deposit payments will be distributed between Oct. 28 and Nov. 14.
The FTB expects about 90% of direct deposits will be issued in October.
The last batch of payments in the form of debit cards will be sent out by Jan. 15, 2023 for those who qualify for direct payments, but do not fall into a category above.