Some residents in California will receive between $200 to $1,050 direct deposits until January 2023. This is to help them battle the increasing inflation rate.
Some Californians will receive up to $1,050 in direct deposit. (Photo: CNBC)
$200 to $1,050 Direct Deposits for Some Californians
Early in October, the state of California began issuing Middle-Class Tax Refund (MCTR) payments to some residents to aid them in fighting the increasing inflation rate. The state has just released updated guidelines for when residents would get the one-time payments, but some of them are still waiting.
California Representative Jim Costa posted on his personal social media account, “Middle-Class Tax Refund payments have been sent out to Californians to help with the high price of gas and cost of living. Californians could receive payments between $200 to $1,050.”
On October 25, Costa posted again and wrote “ICYMI: The first round of middle-class tax refund payments has been sent out starting October 7 through October 25. Those who are eligible for relief will receive their payment via direct deposit or mailed debit card.”
When the MCTR Will Be Sent?
In a published article in Yahoo Finance, the MCTR direct deposit payments for Californians who received Golden State Stimulus (GSS) I or II are anticipated to be made between October 7, 2022, and October 25, 2022, with the remaining direct deposits taking place between October 28, 2022, and November 14, 2022, according to the FTB.
Meanwhile, a debit card will be delivered to MCTR direct deposit users whose banking information has changed after they filed their 2020 tax return between December 17, 2022, and January 14, 2023.
Additionally, it is anticipated that Californians who obtained GSS I and II would receive their MCTR debit cards between October 24, 2022, and December 10, 2022, with the remainder debit cards following on January 14, 2023.
