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Thursday, December 1, 2022

More Stimulus Check In October Including The Biggest From The Golden State

The flow of inflation relief stimulus checks from American states continues unabated in the absence of any form of direct support from the federal administration. California is set to send the $1,050 max stimulus check to its residents in what is set to be the biggest state spending to provide relief from high prices to residents.

Along with California, New Mexico is also set to send out another stimulus. But while for California it is the third round of relief after the Golden State Stimulus Check I and II, New Mexico has issued three payments through two rounds of rebates. The latest round of payment was sent out in August. And now the Land of Enchantment is sending out the fourth round of stimulus checks.

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After Virginia announced the $250 stimulus check for individuals and double that for married couples, West Virginia is also sending out payments to individuals who receive the Low Income Energy Assistance Program. The state Department of Health and Human Resources announced the supplemental payment to individuals in 2022.

For residents of West Virginia, the payments will be between the range of $25 and $465 and will be linked to the assistance paid to the utility provider or even to the client for bulk fuel.

The stimulus check goes out to the company that is the main heating source for the home of the beneficiary, be it a gas or electric company. Beneficiaries who received LIEAP for bulk fuel can expect a stimulus check in their mail. This is a one-off payment and every client will receive the payment by end-September.

California Middle-Class Stimulus Check Finally To Go Out In October

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The Middle-Class stimulus check is finally going out to 23 million residents of the Golden State, roughly 60% of its population. The one-time inflation relief payment is effectively the third round of stimulus checks from the Democratic administration in the state. Eligible residents who are income tax filers will receive a one-off stimulus check which will be between $200 and $1,050.

Stimulus Check
Stimulus Check

Whether you are one of the beneficiaries of the California stimulus check depends on several factors, including your filing status, income, and household size.

These payments are part of the budget signed by Governor Gavin Newsom and are within a larger package of $12 billion earmarked for relief efforts. This package was approved by legislators in Sacramento. 

This plan has prioritized giving money back to millions of residents who continue to grapple with rising prices in the wake of global inflation, the war in Europe, and to some extent the policy of the federal administration to contain the pandemic, save millions of residents from starvation and homelessness, and boost the economy of the state over the past two years and a half.

Eligibility For The California Stimulus Check

Around 23 million state residents are in line for the California stimulus check. the eligibility for the payment has been broken up into three levels linked to the gross income (AGI) in their state income tax return for 2020.

Other than the income eligibility, residents should also have filed the state returns by October 15 last year. they must also have resided in California for a minimum of 6 months during 2020 and also be residents of the state on the payment date. Claimants should not be declared dependent by any other filer for the tax year 2020.

How Much Can You Expect From The California Stimulus Check?

Residents earning as much as $250,000 as individuals and $500,000 as married couples filing jointly can expect a stimulus check. The highest amount has naturally been declared for the lowest slab of filers.

Individuals earning $75,000 or less will get a $350 stimulus check along with another $350 for a maximum of one dependent. For married couples, the amount increased by another $350, making it a stimulus check worth $1,050 for a family of three.

Individual filers with an AGI above $75,000 and up to $125,000 will receive a $250 stimulus check. For married couples earning between $150,000 and $250,000, the individual checks are worth $250 for each filer plus $250 more for one dependent, making it a maximum of $750 for a family in this income bracket.

Individuals earning between $125,000 and up to a maximum of $250,000 will receive a $200 stimulus check and double that for married couples earning between $250,000 and $500,000. So a family in this level can earn $600 maximum if they declare one dependent.

The rebate payments will start going out by the end of the first week of October as revealed by the tax board of the Golden State. For those who have filed their income tax returns electronically and have filed for a refund through a direct deposit, the stimulus check will come in as a bank transfer within the day.

Those receiving their payments through debit cards will have to wait a little longer as they will come in through the US Postal Dept.

stimulus check
Stimulus Check

Californians who failed to file the complete return for 2020 by October 15 next year will miss out on the rebate. But there is an exception for residents who have applied through the ITIN number (Individual Taxpayer Identification Number) and who did not receive it by October 15, 2021.

Other than the relief checks, California has also increased funding for multiple social programs such as the SSI and the SSP. These benefits go out to over a million disabled and seniors in the state. The benefits have seen an increase of $39 a month for single filers and a $100 increase for couples.

There are other increases under the CalWorks grants that provide a check and other services to parents who qualify.

Other states that will send out stimulus checks in October include New York which will send a $270 stimulus check in the coming weeks. Around 1.75 million residents are expected to benefit in the coming weeks. The payments will go out to the lowest earning residents of the state as part of Governor Kathy Hochul’s initiative to provide relief to the low-income residents affected by the pandemic.

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