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Saturday, May 21, 2022

Stimulus Check Update: How Will You Receive Your GSS Payment?

The new month has seen the California Franchise Tax Board sending its Golden State Stimulus check through direct deposit or paper checks. Residents who have had an annual earning of less than $75,000 would be receiving a check worth $600. This is the second round for the Golden State stimulus payment that will be delivered throughout this month and the next. Last spring saw any resident with an annual payment under $30,000 receiving a sum of $600 as well under their tax returns. 

Modes Of Payment For The Golden State Stimulus Check

Citizens who have already chosen to have their stimulus check sent via direct deposit will be receiving their GSS to the same bank account that they have made their tax returns from. The California Tax Franchise Board has already mentioned that most of the direct deposit stimulus payments will come out between the 1st of September to the 15th of October of this year.

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Although the taxes were due in May, the challenges due to the pandemic led to the extension of the deadline until the 15th of October. The CFTB has also warned those that who have submitted their tax return after the 20th of August should definitely wait for around 45 days for their checks to be delivered to them. 

Those citizens who have chosen the mode of payment of stimulus check payments as paper checks will expect delivery on their zip code. The previous month had the CFTB stating that they would be sending in payments in six phases which would start on the 4th of October. If one went on to submit their tax return after the date for the payment has been scheduled, they would have to wait for 60 days for the check to start getting processed. 

In order to check how much would one receive from the stimulus check payments, the California Franchise Tax Board has provided an online tool. Also, the organization has led to the creation of various charts and tables which would explain the payment breakdown based on the size of the family and the status of the tax filed.

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