The payments come after lawmakers in June approved the Middle Class Tax Refund — a direct response to inflation taking a toll on Americans’ wallets, especially in California.
You're thinking, maybe: Monday was Columbus Day, so I need to be patient.
Well, California does not recognize Columbus Day as a state holiday. To the uninitiated, it might seem like some faceless bureaucrat hits a button and the money would just flood out.E-payments are being spread out between last Friday and Oct. 25. Or, to use the state's language:"MCTR direct deposit payments for Californians who received GSS I or II are expected to be issued to bank accounts from Oct. 7, 2022, through Oct. 25, 2022. The remaining direct deposits will occur between Oct.
So, in plain English, that means that, if you did not get a Golden State Stimulus Check last year, you'll need to wait till AFTER Oct. 28. If you recall, those checks were only sent to people who made $75K or less in 2020. Still, many of us will be getting the dough sometime soon:"About 90% of the direct deposits are expected to be issued in October, starting Friday," officials said on the state MCTRThis could be creating a delay as well:"Direct deposits typically occur within 3-5 business days from the issue date, but may vary by financial institution," according to the state .
NBC 7 has asked the state franchise tax board for figures on how many payments have been made so far and will update this article when that figure becomes availablePayment amounts vary on income and 2020 taxes. Below is a breakdown of the expected payments, according to the Franchise Tax Board.
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