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Friday, December 3, 2021

Stimulus Check Update: These Social Security Recipients Will Qualify For The Golden State Stimulus

California has sent out almost 4.5 million stimulus checks till now,  about half of the payments that are expected to be issued under the program.

But there’s still some confusion about who’s receiving the infusion of funds, including whether Social Security recipients will get them.

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The only answer is that some do and others don’t.

This is because, under the guidelines set forth by the state, only certain Social Security beneficiaries are eligible for California’s stimulus checks.

Stimulus Check Update: Eligibility For These Payments

Californians who get Social Security payments are eligible for a stimulus check of up to $1,100, which includes $600 for themselves and $500 for a qualifying dependent, provided that they meet all qualifications and they reported other sources of income with an AGI between $1 and up to $75,000 on their 2020 tax return. The state notes that in calculating a person’s AGI, Social Security is not included.

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The California Franchise Tax Board on its website has a hypothetical instance in which a Social Security beneficiary would qualify for a Golden State Stimulus II payment.

Under this scenario, someone with a savings account gets $2,700 a month in Social Security. That person reports $32,400 in Social Security income and taxable interest of $12.37 from the bank account on their 2020 tax return. That interest is counted toward the California AGI, therefore making the individual eligible for the payment.

If Social Security is the person’s only form of income, he or she will not qualify for a Golden State Stimulus II payment, even if they meet every other eligibility requirement.

If you think that you qualify but have not received a Golden State Stimulus II payment, the state expects to issue the stimulus checks through the beginning of next year.

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