CA Inflation Relief Money: Debit Card Payment Schedule
California released new details on how inflation-reducing dollars will be distributed to eligible taxpayers waiting for debit cards, offering more details based on last names and previous stimulus payments.
The change, updated on the state’s Franchise Tax Board website Thursday evening, now shows a timeline for when the middle class tax rebate issue dates will be announced.
If you have already received a Golden State Stimulus check, regardless of your last name, the issue date will be announced after October 17.
If you haven’t received the stimulus check and your last name begins with AL, the date will be announced after November 7.
For those whose last name is MZ, it will be announced after November 21.
The state expects all debit cards to be mailed out between Oct. 25 and Jan. 15.
Debit card recipients should allow up to two weeks from date of issue to receive their payment in the mail.
You will receive a debit card, depending on the Franchise Tax Council websiteif the following conditions apply to you:
- File a paper return
- Had a balance owing
- You received your Golden State Stimulus payment by check
- You received your tax refund by check, regardless of reporting method
- You received your 2020 tax refund by direct deposit, but have since changed your bank or bank account number
- You received a deposit from your tax service provider or you paid your tax preparer fees using your tax refund
Direct deposit schedule
The state will first issue direct deposits to Golden State Stimulus recipients between Oct. 7 and Oct. 25. Non-GSS recipients won’t see the money until at least October 28, with payments continuing until November 14.
Payments will likely arrive in accounts within three to five business days from the date of issue. The date your payment is posted to your account varies depending on your banking institution.
The direct deposit schedule is solidified with 90% direct deposit, according to the Franchise Tax Office websiteshould hit accounts by the end of October.
In a September email to The Bee, Franchise Tax Board spokesman Andrew LePage said nearly 95% of all stimulus checks — “direct deposit and debit cards combined” — are expected to be issued by the end of the year.
How much will I be paid?
Here’s how much you’re entitled to under California’s new inflation relief plan, according to the Franchise Tax Council websitelast update October 7:
- Income of $150,000 or less: $1,050 with dependent or $700 without.
- Income of $150,001 to $250,000: $750 with dependent or $500 without.
- Income of $250,001 to $500,000: $600 with dependent or $400 without.
HEAD OF HOUSEHOLD
- Income of $150,000 or less: $700 with dependent or $350 without.
- Income of $150,001 to $250,000: $500 with dependent or $250 without.
- Income of $250,001 to $500,000: $400 with dependent or $200 without.
- Income of $75,000 or less: $700 with dependent or $350 without.
- Income from $75,001 to $125,000: $500 with dependent or $250 without.
- Income of $125,001 to $250,000: $400 with dependent or $200 without.
The Franchise Tax Council has a Middle Class Tax Refund Calculator California residents can use to estimate their upcoming payment and whether or not they are eligible.
This story was originally published October 7, 2022 11:08 a.m.