According to the Franchise Tax Board, the vast majority of Middle-Class Tax Refunds will be issued by Jan. 14, 2023, to debit cards.
The FTB has previously said it is expected for about 90% of direct deposits to be issued in October and the 95% of all MCTR payments direct deposit and debit cards will be out by the end of the year.
Spokesperson Daniel Tahara said that as we all know, this is a very large program. Just as with Golden State Stimulus, they provided timeframes contemplating when they expected the vast majority of payments to be issued. Debit cards issued that are beyond Jan. 14 would reflect uncommon scenarios such as the address changes recently brought to their attention and tax returns that require extra review before a payment can be issued.
According to the Franchise Tax Board, more than 29 million taxpayers in California and their dependents have benefited from these payments. The state has issued more than 7 million direct deposit payments and almost 8.3 million debit cards worth more than an amount of $8.3 billion.
Earlier this year, the inflation relief payments were promised to help with raised gas and cost of living prices. The state Legislature and governor had agreed to send Californians who file their income tax in the state making less than an amount of $500,000 a year payments between $200 and $1,050 that is depending on income and family size.
There have been issues with the people’s debit cards, however, some people have reached out to KCRA 3, saying that they were unable to use their cards because the funds were drained out. Lawmakers are encouraging anyone with that kind of issue to contact their assembly member or state senator.
READ ALSO: $500 Automatic Three Monthly Payments Starting This Month – See If You Are Qualified For The Cash