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Up To $1,050 Direct Payments Rolling Out This Valentine’s Day!

Direct Payments {Photo: Forbes]
Direct Payments {Photo: Forbes]

Up to $1,050 in direct payments will be rolling out this Valentine’s day, February 14. These payments are under the Middle Class Tax Refund program of California.

Direct Payments {Photo: MARCA]

Direct Payments {Photo: MARCA]

Residents of California are eligible to receive direct payments worth $200 to $1,050. These direct payments are part of the state’s Middle Class Tax Refund (MCTR) program. The payments have begun rolling out last October 2022. Fortunately, there will be another and final round of payments expected to roll out until February 14. The recipients of these payments are those who will receive debit cards or direct deposit payments. They are also those who have changed addresses since filing the 2020 tax return.

According to Salas-Rodriguez, the direct deposit payments are for those taxpayers who electronically filed their 2020 tax return. From the issued date, recipients must allow a two weeks interval before receiving the debit cards by mail. Some direct deposit payments are conducted within three to five business days from the issue date. However, these transactions depend on the financial institution. As one will also notice, the return address on the envelopes is from Omaha, Nebraska. This is because the Franchise Tax Board has collaborated with Money Network to issue the debit cards.

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Who is eligible for these direct payments?

According to an article from Modesto Bee, to be eligible for these direct payments, a resident must have filed their 2020 tax return by October 15, 2021 and met the state’s adjusted gross income limits. They must not be an eligible dependent in the 2020 tax year but have been a resident of California when the payments were issued.

Furthermore, a recipient will receive the direct payments through a debit card if they have filed a paper return, have a balance due, or received their Golden State Stimulus (GSS) and tax refunds by check. They may also receive debit cards if they have received their 2020 tax returns through direct deposit payments, received an advance payment from their tax service provider, or paid tax preparer fees using tax refunds.

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