California’s Middle Class Tax Refund: A lifeline in These Trying Times – See If You’re Eligible

The State of California has begun issuing the Middle-Class Tax Refund (MCTR) to eligible taxpayers on December 19, 2022. The payments will continue to be mailed out to citizens through January 14, 2023. According to a report by Yahoo Finance on January 4, 2023, the MCTR is the final wave of stimulus payments that will provide eligible Californians with a financial boost of $200 to $1,050, depending on their earnings and filing status.

Based on the guidelines released by the State of California Franchise Tax Board (FTB) on December 23, 2022, to be eligible for the MCTR, you must have filed your 2020 tax return by October 15^th, 2021, or by February 15^th, 2022, if you applied for an individual taxpayer identification number but did not receive it by October 15^th, 2021.

Additionally, you must meet the California adjusted gross income limits, which means you earned less than $250,000 ($500,000 for married joint filers) during the 2020 tax year. Furthermore, you cannot be claimed as a dependent in the 2020 tax year, and you must have been a California resident for six months or more of the 2020 tax year, according to FTB.

Eligible Californians who filed their 2020 taxes electronically and received their refunds via direct deposit will receive their MCTR via direct deposit. Otherwise, they will receive a debit card by mail, according to Yahoo Finance.

As of December 30^th, 2022, more than 30.6 million California taxpayers and their dependents have benefited from the MCTR.