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Thursday, October 28, 2021

Stimulus Check Update: When Will The Payments Go Out In The Golden State

According to media reports, California is about to send yet another round of stimulus check payments which will provide $1,100 to millions. The stimulus payments have been interestingly named Golden State Stimulus II and have found approval under a $100 billion plan which was signed by the Governor earlier. This plan has the aim of spurring the economic recovery of the state after it went through a year of pandemic-related shutdowns. 

The plan states that every eligible individual would be receiving a sum of $600- while those with a dependent will be getting an additional $500 as a part of their stimulus check payment. People who have already qualified for the Golden State Stimulus payment for this year will be getting an extra payment of $500 or $1000 as stated by the California Franchise Tax Board.

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With the two stimulus check payments, it can be assured that the Golden State would be spending around $2 billion in direct payments. These payments will be sent out to residents of the most populous state in the country. This does make California the state with the largest tax rebate in the country according to the office of the Governor. 

When Will The Stimulus Check Payments Go Out?

Most of the stimulus check payments are expected to go out early in September which is dependent on one’s tax return for the previous year. This entails that your tax return has already been under due process according to the Franchise Tax Board. Also, the Golden State has a Wait Times dashboard where one can find information on refund processing and tax returns. 

In order to qualify for the stimulus check, one needs to be a resident of California for over half of 2020- and still reside in the state. The gross annual income for the resident has to be somewhere between $1 and $75,000 with their wages below $75,000 or less. 

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