More than 1.2million Americans to get stimulus checks worth $890million TOMORROW – see if you’re eligible
MORE than 1.2million California residents will get their state stimulus checks from tomorrow, October 15, worth a collective $890million.
The California Franchise Tax Board told The Sun it'll issue the fourth batch on October 15, including 421,000 direct deposit payments worth almost $323million.
These will then typically hit bank accounts within a few days after that.
The batch of payments also include around 819,000 paper checks worth about $567million, the Tax Board added.
Meanwhile, most of the direct deposit payments will have been made by the end of this month in time for Halloween.
The checks are worth between $600 and $1,100 under the Golden State Stimulus II, and are sent to those earning less than $75,000 a year.
Meanwhile, those who were eligible for the state's first stimulus program may get an additional $500.
California Governor Gavin Newsom has estimated that around two-thirds of the state's population will receive cash under the Golden State Stimulus II.
Following the latest batch earlier this month, the state had issued $2.33billion in pandemic-related aid.
The state has said about nine million tax returns qualify for the stimulus, and it expects to identify even more by the October 15 filing deadline.
Who qualifies for the stimulus checks?
To qualify for the stimulus checks, the following must apply to you:
- You must file your 2020 taxes by October 15, 2021
- Have a California Adjusted Gross Income (CA AGI) of $1 to $75,000 for the 2020 tax year
- Have wages of $0 to $75,000 for the 2020 tax year
- Be a California resident for more than half of the 2020 tax year
- Be a California resident on the date payment is issued
Also, keep in mind the checks can't be claimed as a dependent by another taxpayer.
If you qualify for the check, you'll typically get it using the refund option you selected on your tax return.
Most direct deposit payments are issued between September 1 and October 31, but if you filed your tax return after September 1, expect to wait 45 days.
Meanwhile, paper checks go out depending on the last three digits of the ZIP code on your tax return.
You can view the paper check mailing schedule on the GSS II webpage.
In total, an estimated $12billion will be issued with the hope of offering financial relief to residents worst hit by the coronavirus crisis.
It comes as the fourth batch of child tax credits are set to go out tomorrow too - we explain how much your family should get.
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