[ad_1]
Posted:
Updated:
(NEXSTAR) – The very first batch of California inflation relief checks – also called the Middle Class Tax Refund – will be sent out on Friday. How quickly you receive your payment will depend on the method it’s being sent out.
The state is sending out payments in two ways: direct deposits and debit cards.
How can you tell which one you’ll be getting? You should be able to tell based on how you filed your 2020 taxes in California.
If you filed electronically and you received a tax refund by direct deposit, then you can expect to receive your Middle Class Tax Refund by direct deposit as well, the Franchise Tax Board said.
Pretty much everyone else will be getting a debit card, the agency said.
Debit card recipients will include, according to the FTB:
- People who filed a paper tax return in 2020
- People who received a 2020 tax refund by check
- People who owed state taxes in 2020, so didn’t receive a refund
- People who received their 2020 tax refund by direct deposit, but have since changed banks or account numbers
- People who received a tax refund by check regardless of filing method
- People who received an advance payment from a tax service provider, or paid their tax preparer fees using their 2020 tax refund
- People who received a Golden State Stimulus payment by check
Direct deposits will start to go out on Friday, Oct. 7, according to the FTB. Debit cards will start going out to eligible Californians on Oct. 25.
The agency estimates 95% of payments will be received by the end of the year, though some could arrive in January 2023.
Payments will range from $200 to $1,050, depending on your income, filing status and number of dependents. We help you determine how much you can expect to receive here.
[ad_2]
Source link