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Tuesday, July 5, 2022

California Stimulus Checks- Important Facts To Pay Attention To

The second batch of the stimulus check financial aid payments got dispatched in the state of California. It was provided on the 17th of September. The official name given to the payment is the “Golden State Stimulus” check payments. And the number of checks that were generated was probably 2 million. 

Stimulus Checks- Amounts

The stimulus checks provided in California are one of the provisions of the California Comeback Plan, the total budget of the plan is 100 billion USD. The main aim of the plan was to uplift the state for the problems that hit the state following the coronavirus pandemic. The state has a very healthy rate of employment as compared to all the states of the United States of America. It is 7.5%.

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As per the eligibility conditions, the gross income must be somewhere between 0 to 75,000 USD for the tax year 2020. Along with that, the person must have been a resident of California in order to receive the stimulus check financial aid payments for over 50% of the tax year 2020. And the dependent must either be a qualifying relative or a qualifying child.  

As per the advice of the tax board, for a resident of the state, there is not much to do in order to qualify for the payments. The only thing to pay attention to is the tax returns. One will have to file for their tax returns until the 15th of October. According to the estimates, about 9 million residents of the state of California are qualified to receive the stimulus check financial aid payments.

Those residents who will qualify for the payments will receive an extra amount of 600 USD or 500 USD. The ones who have one dependent, are eligible to receive an extra amount of 500 USD. And so the total amount that the person will receive is 1100 USD.   

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