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Get Up To $1,050 Automatic Payments From $9.5 Billion Pot This Week – Who Qualifies?

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California taxpayers are receiving a one-time payment in the form of direct deposits or debit cards as part of the state’s Middle Class Tax Refund.

These payments are being distributed from a pool of $9.5 billion since October 2022, and $8.7 billion has been refunded as of December 2022, according to Franchise Tax Board. The timing of direct deposit may vary based on financial institution, usually 3-5 business days from issue date.

An article published by The U S. Sun on January 9, 2023 stated that direct deposit recipients who filed 2020 tax return and updated their banking information will receive their payments between December 17, 2022 and January 14, 2023.

While, debit card recipients will receive their payments within two weeks of the issue date by mail. The payment amount will range between $200 to $1,050 based on California adjusted gross income.

Payments will be delivered through direct deposit or by mail as a debit card. Direct deposit is for those who e-filed their 2020 California tax return and had direct deposit for their refund.

The debit cards will be mailed to the recipient’s address and have a return address of Omaha, Nebraska, as they are being distributed by the FTB and Money Network. Recipients will receive the debit card if they filed a paper return, had a balance due, received their 2020 tax refund by check or changed their banking information since filing the return.

To be eligible for the refund, you must have filed your 2020 tax return by October 15, 2021, meet California adjusted gross income limits, not have been claimed as a dependent in 2020, have been a California resident for at least 6 months in 2020, and still be a California resident on the date of payment issuance.

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