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Saturday, July 2, 2022

Approximately 70,000 Stimulus Checks Will Be Sanctioned Within Two Weeks

It has been in the news that in the upcoming days the majority of the American population will receive their stimulus checks from the Government. The number is likely to be more than 70,000 which will cost $1,200 to the Government. There has been news that other cities and states also initiated similar programs of sanctioning stimulus checks after the confusion over the federal stimulus checks. 

California has decided to sanction more than 12.3 million stimulus checks to its people which cost the Government approximately $8.8 billion. Most of the confusion and problems arose between two programs i.e. the Golden State Stimulus II and the Golden State Stimulus I initiatives. The mentioned two initiatives are worth $1,100 and $1,200 respectively. In order to be qualified to get stimulus checks from the Californian Government, the people need to have an annual earning of less than $75,000 and must have filed their taxes before 15th October 2021. 

Who Are Eligible To Get These Stimulus Checks?

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This month the new stimulus checks were sent out under both the initiatives. Though as per the words of FTB of the State, 99% of stimulus checks have been already issued and people will receive them within a few months. However, actual reports state otherwise. People who applied for ITIN by 15th October 2021, are not eligible for these checks. Only a few people who have filed a state return in time will get the checks. The remaining checks will be issued to people who have filed amended returns of non-resident state income which is a very lengthy process.

As per reports, the checks of the Golden State will be received by people from March to April. These checks will come either via mail which will take three weeks to arrive or by a direct deposit which might take some business days.

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