$6,000 in 18 Months: California Franchise Tax Board’s New Program to Help Low-Income Families with Monthly Payments

California Franchise Tax Board Introduces New Program to Help Low-Income Families

California Residents to Receive $500 Monthly Payments for 18 Months

According to the report of Marca, the California Franchise Tax Board (FTB) has introduced a new program to help low-income families and individuals struggling financially. This initiative will provide a total of $6,000 to eligible residents, starting with $500 monthly payments from June 2023 until November 2024. This means people will get regular financial help for 18 months.

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(photo: WibliqX)

California Residents Struggle with Financial Difficulties

To get these payments, you need to live in California, earn no more than $75,000 a year if you are single or $150,000 if you are married. You also need to have filed your 2020 income tax returns by October 21, 2021, and have a Social Security Number. This program was first introduced during the COVID-19 pandemic but was paused and it is now back to help with ongoing financial difficulties.

The money from these checks is meant for essential needs like food, healthcare, and education. Around 8.3 million households in the state are expected to benefit from this support. The FTB promises to send out these payments on time each month and advises people to wait up to three extra business days for any delays before asking for help.

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