California’s Franchise Tax Board recently announced roughly 1.15 million stimulus payments will be distributed this week to the residents who qualify for Golden State Stimulus (GSS) II.
The batch of stimulus payments scheduled for distribution includes approximately 400,000 direct deposits and 750,000 mailed checks. Most direct deposits will be issued by the end of this week.
“The Golden State Stimulus is key to lifting up those hit hardest by the pandemic and supporting California’s economic recovery, putting money directly in the hands of folks who will spend it on basic needs and within their local communities,” Gov. Gavin Newsom said in a statement.
The Governor’s Office estimated that approximately two out of three Californians will be eligible for the Golden State Stimulus payment, which provides a total of $12 billion in relief.
As of this week, 4.5 million taxpayers have received their stimulus checks, totaling $3.2 billion. The Franchise Tax Board expects to issue all the payments by the end of the year.
The paper checks will go out by the last 3 digits of the ZIP code on the 2020 tax return. Though some payments may need a longer time to process for accuracy and completeness. The stimulus check may take up to three weeks to be delivered to eligible taxpayers once they’re mailed out, according to the California Franchise Tax Board.
To qualify for the program, one must have filed 2020 taxes before Oct. 15, 2021, and be a California resident for more than half a year in the 2020 tax year. Additionally, the resident must make under $75,000 in California adjusted gross income. Dependents don’t qualify for this payment.
Stimulus Check Amount
$500 payment to qualified recipients who file with a Social Security Number, qualified for GSS I, and claimed credit for one or more dependents;$600 payment to qualified recipients who file with a Social Security Number, did not qualify for GSS I, and did not claim credit for one or more dependents;
$1,000 payment to qualified ITIN filers who qualified for GSS I and claimed credit for one or more dependents;
$1,100 payment to qualified recipients who file with a Social Security Number, did not qualify for GSS I, and claimed credit for one or more dependents.
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