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Monday, January 24, 2022

Stimulus Checks: 1Mn More Is Heading Out This Week

The time has come once more: a big new stimulus check wave will be heading out today, 29th October. It will give some bonus cash to the recipients. The wave that is coming is from the GSS II program by the state of California. The program has been sending out stimulus checks in waves for several months now.

Who Gets The New Stimulus Checks?

The new stimulus checks are only for Californian residents, as a result. This makes them different from the upcoming wave of CTC payments that will be sent to several million American families in just some weeks. The CFTB states that 1.15Mn GS stimulus checks are being sent to Californians. Their aggregate total comes to $857Mn.

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The majority of this wave’s stimulus checks will be paper checks sent via post. On 1st November, Monday, 750,000 paper checks are going to be sent via mail. Meanwhile, on 29th October, 400,000 payments will be directly deposited into the bank accounts of recipients. If you are getting the check via mail then take note that it will probably be a few days till you actually receive it in hand. The case is similar for direct deposits as well.

So far, California has reportedly sent out about 4.5Mn payments under the GSS II program. Their collective value is $3.2Bn. Out of them, 3.3Mn payments were direct deposits. The remaining 1.2Mn payments were in the form of paper checks sent via mail. More importantly, the 4.5Mn number accounts for 50% of the 9Mn Californians who are eligible for the new checks.

To qualify for the checks, Californian taxpayers must have had an AGI between $1 and $75,000 during the tax year of 2020. They also must have filed their tax return for the state by 15th October 2021.

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