California inflation relief refund: Here's who's eligible for payment
SACRAMENTO, Calif. - Californians may start seeing refunds from the state as part of a plan to offer some measure of relief from inflation.
California residents who filed their 2020 taxes are eligible to receive a one-time payment of up to $1,050 as part of the state's inflation relief package. As many as 23 million will receive some payout.
The payments will be distributed starting in October. The last batch is expected to go out by the middle of January 2023.
Who is eligible for a refund?
The California Franchise Tax Board said residents who filed their 2020 tax return after October 15, 2021, do not qualify for the ''middle-class tax refund."
According to the Sacramento Bee, the only exception is for people who applied for an individual taxpayer identification, didn’t receive it by October 15 and filed their 2020 tax return by February15, 2022.
Eligible residents who filed their 2020 tax return online and opted to receive a direct deposit payment will have the refund issued in that form. Everyone else will get the payment on an issued debit card.
How much will I get?
The exact figure Californians will pocket depends on several factors including adjusted gross income (AGI), filing status, and dependents.
So single people who make less than $75,000 per year will receive $350 and joint filers who make less than $150,000 per year would get $700 plus an extra $350 for a dependent.
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
The California Franchise Tax Board has a calculator on its website for Californians' to estimate their refund amount or whether they qualify.