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Friday, January 27, 2023

Stimulus Check Inflation Relief Update

California’s Inflation Relief Checks are back with a vengeance! The state Franchise Tax Board (FTB) has been mailing out payments to taxpayers who overpaid their state income taxes. According to the FTB, more than 4 million checks have been delivered since September — totaling about $400 million for people who overpaid their state income taxes from tax years. Most checks have been relatively small — in the range of $5 to $15 — but some came with four digits attached like the one Philip Rago received in January for a little over $1,000 based on his calculations.

The last checks will be mailed out this week — a major milestone for the state Franchise Tax Board, which is overseeing the rebate effort.

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More than 4 million payments have been delivered totaling about $400 million for people who overpaid their state income taxes, as well as some other types of payments to businesses.

The Franchise Tax Board is overseeing the rebate effort to make sure all taxpayers receive what they are owed. The last checks will be mailed out this week, according to a statement from the agency.

Stimulus Check Recent Update

It’s important that you do not try to cash your check until Thursday because there may be a delay in processing it at that time due to high volume of payments being processed by the post office and banks, said FTB spokesperson Anne Marie Fagan in an email message Monday evening.”

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If you were expecting a big payoff, you’re in luck: some people have received checks that are quite large.

“I get $1,000 or so every month,” says Philip Rago, who lives in Piedmont and works for a Bay Area tech company. His first payment came in January, and he was pleasantly surprised by the amount on it. “It’s been helpful! I’ve used it on repairs and maintenance around the house.”

But most checks have been relatively small—in the range of $5 to $15 — though some have come with four digits attached, like the one Philip Rago received in January for a little over $1,000.

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