By the beginning of the new year, Californians can anticipate receiving tax refunds as part of the Middle-Class Tax Refund (MCTR).
According to information from December 16, only about 15 million of the anticipated 18 million MCTR payments had been made, either through direct deposit or debit card.
So far, payments totaling around $8.2 billion have been made.
Taxpayers in California who have adjusted gross incomes below $500,000 will get $9.5 billion in relief payments.
The amount you must pay depends mainly on your California-adjusted gross income from $200 to $1,050.
Payments should be received by non-Golden State Stimulus (GSS) beneficiaries with last names starting with L to Z between December 19 and December 31, 2022.
Those whose surnames begin with A to K, however, received their payouts earlier in December.
Beneficiaries can anticipate receiving their rebates by January 14, 2023, unless they have updated their banking details since filing their 2020 tax return.
Since it may differ between banks, direct deposits normally happen 3 to 5 business days after the issue date. Your debit card will arrive in the mail around 2 weeks from the date it was issued.
Who is Eligible for a Refund?
If your 2020 tax return was submitted by October 15, 2021, and you fulfill the California adjusted gross income (CA AGI) requirements, you are qualified for a refund.
You qualify for the rebate today if you weren’t qualified to be claimed as a dependent during the 2020 tax year. Also, you must have lived in California for at least 6 months of the 2020 tax year to be eligible.