$9.5 billion in middle-class tax refund payments are about to go out in one state
What’s happening? The state of California is set to begin distributing tax refunds of up to $1,050 to millions of residents, under the largest such program in the state’s history.
Gavin Newsom issued a statement claiming that an estimated 23 million Californians would be benefiting from a check worth up to $1,050 as soon as October.
Approximately 23 million taxpaying California residents are eligible to receive the payments, with smaller payments going to higher earners.
To be eligible, you must have filed your 2020 tax return by last October and make less than $150,000 per year. If you are eligible, there is no action to take.
Roughly 23 million California residents are eligible for the rebate plan, which has been set up in three tiers based on the adjusted gross income on your 2020 California state tax return.
In Hawaii, the state Department of Taxation issued direct deposit refunds initially in two distributions — on Sept. 9 and Sept. 13 — and all taxpayers who filed by July 31 should have received their payments by Sept. 21.
The benefit phases out for higher-income earners, with eligibility extending to individual taxpayers who made $250,000 or less and couples or heads of households who made $500,000 or less.
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