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Thursday, December 2, 2021

California Stimulus Check 2: Majority Of Direct Deposits To Be Sent This Week

Are you among the California residents who are still anticipating their stimulus check under the GSS program? Then there is good news. Your payment may be arriving before this week is over.

CFTB’s Latest On The Stimulus Checks

The California Franchise Tax Board (CFTB) stated that a huge majority of the direct deposit stimulus checks under the GSS II program are expected to be issued before 31st Oct. Furthermore, all the remaining payments should be delivered before the year is over.

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The administration of Gavin Newsom, the Governor, claimed that 67% of Californians are expected to qualify for a stimulus check. The total amount being sent under the GSS program is $12Bn. The original GSS I was targeted towards Californian residents whose income was low. In July, the program was expanded and covered residents whose AGIs were at most $75,000.

The majority of Californians who are eligible for the stimulus checks do not need to take any action to get the payments. However, they must have turned in their tax returns for the year 2020.

Approximately 400,000 stimulus checks will be directly deposited on 29th Oct, Friday. A further 750,000 paper checks will begin being sent via mail on 1st November, Friday, as claimed by the CFTB.

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So far, approximately 4.5Mn GSS II payments have been issued by the state of California. Of them, approximately 3.3Mn are payments made via direct deposits and 1.2Mn are checks sent via mail, according to the FTB. The total value of the payments is estimated at $3.2Bn.

The deadline for being eligible for these payments was October 15th which was also the last date when the personal state income tax for 2020 could have been filed. As such, the FTB added, that the last-moment filings will require the payments to be sent throughout several more months.

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