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Sunday, December 4, 2022

Stimulus Check 2022: Another Round In October

In California, thousands of taxpayers will get a Stimulus Check of up to $1,050 beginning in October to offset the effects of inflation on their household budgets. Inflation hit a record 9.1% in July compared to July 2021 prices, so this Stimulus Check should help about 23 million Californians.

Money for state residents who filed their taxes online and opted for direct deposit will be available between Oct 7 and Oct 25; those who did not opt for direct deposit will receive a debit card instead.

Stimulus Check For Americans

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NBC Bay Area reports that the California Franchise Tax Board anticipates receiving 90% of the payments by the end of October. Those living in California with an annual income of less than $75,000 will receive $350, with a further $350 for each dependant. The maximum household income is $150,000.

Those with annual incomes between $75,000 and $125,000 will receive a $250 Stimulus Check, with an additional $250 available for those with dependents. Relief funds will be available to residents of three different states in the United States. All of them must submit their tax returns by October 17 to be eligible for these payouts. In light of the fact that there will be no further stimulus payments, many states have begun providing financial assistance to help mitigate the effects of inflation.

The maximum benefit for a family with dependents is $300. You can add Rhode Island to the list of states that may qualify for this assistance. State residents who qualify for the child tax credit can get up to $750. Last but not least is Maine, where residents can receive a refund of $850 for each person or up to $1,700 for an average family.

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