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Wednesday, November 30, 2022

Stimulus Check 2022: Payments To Be Sent Soon

Residents of California could qualify for stimulus checks of USD 1k. This initiative taken by the government of California termed Middle-Class Tax Refund, has been done with the intention of combating the rising price of living. The stimulus checks will be dispersed from next month onwards.

Residents who are eligible shall be remitted the payments directly to their bank account or shall be issued debit cards for the remittance. The govt of California expects to complete the distribution by next year January.

Stimulus Check Remittance Qualification

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In order to qualify for the Middle Tax Refund Payment, the govt of California specifies certain criteria for the qualification.

The applicants should have resided in the state for at least 6 months in the year v2020 and they should have filed their tax returns by 15th October 2021 for the year 2020.

Their earnings for the year should be below USD 250k for single return filers and below USD 500k for couples. The state also specified that the persons claimed as dependents in their tax returns for 2020 will also be eligible.

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Detailing the scheme the govt specified the amount of refund to be received will depend on the earnings of the individual and the dependants they have.

Residents earning between USD 125,001 and USD 250,000 individually per year and having no dependents would be entitled to a payment of USD 200.

Couples who earn up to USD 150,000 and have dependents will be entitled to receive USD 1050.

Several other states of America are trying to find ways and means to provide a financial release to their residents whose lives have been battered since the pandemic coupled with the high inflation rate. 

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