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Friday, October 7, 2022

A $600 Stimulus Check Could Be Yours Soon

The last federal stimulus check was issued in March 2021 and helped many Americans survive the economic downturn caused by the pandemic. It helped put food on the tables and pay utility bills for many citizens. However, it was the last of the stimulus payments.

But help is at and with the states pitching in with federal funds they received from the same American Rescue Plan Act of 2021. Millions of citizens are set t receive a 4th stimulus check for 2022

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Residents of California have qualified for a one-time payment that will vary between $500 and $600. This is an extension of the Golden State Stimulus check which the state legislature passed this February.

This stimulus check was aimed at assisting not just those struggling due to the economic downturn but also reaching out to migrants who had been excluded in the previous round of the state stimulus payments.

The package comprises a total of $3.8B in payment and will benefit around 8.5M Californians. It would provide payments to almost everyone residing in California, with two-thirds of the residents of California meet the guidelines for qualification.

Tax Board Has Listed The Criteria For The California Stimulus Check

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For residents wishing to know the criteria for the current round of the state stimulus check, an individual must be a resident of California and a regular income taxpayer in the state.

The annual earnings of a qualifying resident should be a maximum of $75,000 in the tax year 2020, the return to which was filed in 2021. The resident should also have an effective SS number or ITIN.

While taxpayers will get the maximum amount of $600, other recipients who qualify will get a stimulus check of $500. Both groups should also get an additional $500 for each qualifying dependent.

The state’s Franchise Tax Board is also expected to issue another tranche of stimulus checks in June. Under that scenario, residents could qualify for both stimulus payments but have to prove their eligibility in the first place.

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