After millions of payments were sent out on September 17, some Californians are still waiting for their $600 stimulus payout.
The extra money is available to almost two-thirds of the state’s citizens. According to the Franchise Tax Board, the state has already given more than $1.8 billion to qualified taxpayers through its Golden State Stimulus in the last few weeks. Last week, on September 17, the final batch of payments to approximately 2 million Californians was sent, according to Sacramento Bee.
In a recently published article in The Sun, Andrew LePage, the board’s spokeswoman said Californians may have to wait up to three weeks for their check. The next installment of the stimulus money will be delivered on October 5th, just over a week from now. Thus, payments will be distributed throughout the state until the end of the year when the FTB will begin processing outstanding tax returns.
Who are Eligible and Who are Not?
Californians earning less than $75,000 are eligible for a stimulus payment, but certain conditions are attached. However, those without dependents will receive $600, while those with dependents will receive $1,100.
Those who received $600 payments through Golden State Stimulus in May are also eligible for a $500 check this time if they have one or more dependents, or $1,000 if they are illegal Californians with Individual Taxpayer Identification Numbers who did not get the federal stimulus. They will not receive money from the state unless they do so.
In May, Gov. Gavin Newsom revealed plans for the stimulus payments, citing the state’s record $76 billion budget surplus, fueled by income tax revenue collected from the state’s wealthiest people. To comply with a government spending cap set by California voters in a ballot measure in 1979, the state was forced to return some of its excess to its taxpayers.
Americans with ITINs are ineligible to receive government stimulus funds. Taxpayers who are qualified for the payment should file their 2020 tax forms by October 15.
On the other hand, Californians have been told that if their tax return was filed after August 20, they should expect to wait 45 days. Moreover, the state has established an online estimating tool to help residents figure out how much they should get.
Online Estimating Tool
To acquire your IRS username and ID.me account information, you’ll need a photo ID. Also, to see if their credit is on the way, Americans click the “Processed Payments” tab. Hence, you can check your payment status on the IRS’s new Child Tax Credit Update Portal if you haven’t received your check yet.
With the likelihood of a fourth federal stimulus check dwindling, some states consider alternate ways to assist cash-strapped Americans. Lori Lightfoot, the mayor of Chicago, proposed offering low-income families $500 each month for a year. She said that the program will aid “hard-hit” families needing “extra financial security.”
The “first of its type” trial initiative would provide monetary assistance to 5,000 households worth $31.5 million. It will focus on poor residents, depending on their earnings and where they live in Chicago.
On Monday, Mayor Lightfoot stated that it would have no impact on city spending and that there would be no reduction in services or layoffs as a result. Instead, the city will rely on federal funds to fill budget gaps.