California taxpayers to get refunds starting Friday to help with rising costs of gas

RockedBuzz
By RockedBuzz 2 Min Read

News, California taxpayers to get refunds starting Friday to help with rising costs of gas : detailed suggestions and opinions about California taxpayers to get refunds starting Friday to help with rising costs of gas .

The Golden State will send tax refunds to about 23 million Californians starting Friday to help them navigate the rising costs due to inflation.

California will spend $9.5 billion as part of the “Middle Class Tax Refund Estimator” program, with one-time payments ranging from $400 to $1,050 for couples who filed jointly on their 2020 state income tax return and $400 to $700 for those who filed independently.

Payments will arrive in several ways starting Friday, including direct deposits to roughly 8 million bank accounts for those who e-filed their 2020 state income tax return. The state expects the majority of all direct deposits to hit bank accounts by the end of October and more will be sent out through Nov. 14. An additional 10 million payments will be mailed in debit cards. Those California residents can expect their payments to arrive from Oct. 25 to Jan. 15, according to the state Franchise Tax Board.

Eligible residents will need to have filed their 2020 tax return by Oct. 15, 2021, meet the state’s adjusted gross income limits and were not claimed as a dependent in 2020. Individuals will also had to have lived in California for six months or more in 2020 and are currently a California resident when the payment is issued.

Story continues

Share This Article
Leave a comment