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Friday, July 1, 2022

Golden State Stimulus Check Of $1,000 Maximum Going Out: Check If Your Payment Is On The Way

Around 803,000 stimulus checks will be sent out by California over the next couple of weeks under the Golden State stimulus check payments. People who will get the payment through direct transfers will get them soon. Individuals and families receiving through the postal service will have to wait another 2-3 weeks more.

Around 1.7M stimulus checks remain to be sent by California to its residents who will get between up to $1,100 under the second phase of check payments. California is planning to complete the payment by 2021. The payments in the latest round sent included 800,000 checks plus 3,000 direct deposits.

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People who have qualified will get it through the refund route on their returns. Direct bank deposits will be credited to accounts within a few working days, though it ideally takes only a day.

Criteria For The State Stimulus Check

Residents who qualify for the stimulus check will have to meet these criteria. They should have filed their 2020 income tax returns by the 15th of October of this year. they should have an Adjusted Gross Income of between $1 and $75,000 in income tax year 2020.

Qualifying residents must have wages of $75,000 maximum in the income tax year 2020 and be a resident of California for over half of the 2020 tax year. They must also be a resident of California on the day the stimulus check is issued.

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The value of the 7.3M payments comes to around $5.1B. the tax board (CFTB) has estimated that around 9M payments will be paid in total under the state stimulus check program. That indicates that around 1.7M are still to be paid.

The direct payments were credited by October in time with Halloween. Bank checks are being sent as per ZIP codes. There are talks of another check next year as California is sitting on a surplus of $3B funds.

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