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Inflation relief checks disbursement begins Friday
Millions of eligible Californians will start receiving inflation relief payments in the form of debit cards or direct deposits beginning Oct. 7.
LOS ANGELES - As many as 23 million Californians are eligible to receive inflation relief payments of up to $1,050, with the first batch of payments disbursed last Friday.
If you didn't get your Middle Class Tax Refund via direct deposit, you may be wondering what the deal is and when you'll get paid.
According to the Franchise Tax Board, while direct payments began disbursement on Oct. 7, more will continue to be sent out through Oct. 25, with the remaining direct deposits arriving between Oct. 28 and Nov. 14.
The FTB said about 90% of the direct deposits are expected to be issued in the month of October.
Also, officials said not to forget that direct deposits likely don't get posted to accounts until 3-5 business days from the issue date and that varies by bank.
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If you're not in the direct deposit family and instead are awaiting a debit card, you'll have to wait a bit longer. Debit cards will start getting mailed out between Oct. 21 and Dec. 10, according to the FTB. That also doesn't factor in the extra delay that comes with snail mail containing the debit card actually arriving in your mailbox.
The last batch of payments in the form of debit cards will be sent out by Jan. 15, 2023 for those who qualify for direct payments, but do not fall into a category above.
Payment amounts vary on income and 2020 taxes. Below is a breakdown of the expected payments, according to the Franchise Tax Board.
Joint returns
- AGI of $150,000 or less: $1,050 with dependent or $700 without
- AGI $150,001 to $250,000: $750 with dependent or $500 without.
- AGI of $250,001 to $500,000: $600 with dependent or $400 without.
Head of Household
- AGI of $150,000 or less: $700 with dependent or $350 without.
- AGI of $150,001 to $250,000: $500 with dependent or $250 without.
- AGI of $250,001 to $500,000: $400 with dependent or $200 without.
Those who file single
- AGI of $75,000 or less: $700 with dependent or $350 without.
- AGI of $75,001 to $125,000: $500 with dependent or $250 without.
- AGI of $125,001 to $250,000: $400 with dependent or $200 without
Single filers making more than $250,000 and joint filers making more than $500,000 are not eligible for payments.