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Saturday, September 24, 2022

Inflation Stimulus Check: Expect Relief Payments In California

As American citizens are trying their level best to cope with the increased cost of living, several states in America have started issuing stimulus checks this month.

Even though the inflation rates have been continuously coming down from 9.1% to 8.3%, the majority of the middle-income group in America are complaining of their struggles to make ends meet. Their income is not sufficient to cover their inflated cost of living.

Stimulus Check For Relief 

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More than 23 million residents of California are expected to receive financial relief from the state by way of tax rebates in the upcoming months.

Depending on the income of the residents of California, the refunds are estimated to be between 200-1050 dollars and will be credited to the residents who are currently or were previously residing in the state of California when the checks are to be issued. 

Middle-Class Tax refunds will be first issued to the residents who had previously received, through direct debit the Golden State stimulus checks. The first tax refund will be credited from 7 October and will be issued to their account between 7 October and 25 October. The balance of direct deposits will be between 28 October and 14 November.

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For those who are not registered for direct deposits, the state will mail debit cards between Oct 25 and Dec 10. The remaining residents who qualify for the refund but are yet to receive it shall receive their debit cards by 15 January 2023. Guidelines have been issued to check for eligibility for tax refunds:

  1. Persons who have resided in California for a minimum of 6 months in 2020 or are currently residing and have filed their tax returns by 15 October 2021.
  2. A person enlisted as a ‘dependant’ under 2020 shall not qualify for a stimulus check.
  3. To qualify for the tax refund individual income should be less than $250,000 annually and less than $500,000 for couples filing returns.
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