Did you get your California inflation relief money? Here’s a breakdown on payments

Some qualifying California taxpayers might be waking up to as much as an additional $1,050 in their bank account Friday.

The “Middle Class Tax Refund” from the state was scheduled to begin payments Oct. 7. Not everyone will see the money then, as the rollout could take until January for some individuals and families.

To qualify for the money, you must:

• Have been a California resident for at least six months of the 2020 tax year and be a resident when the payment is issued
• Meet one of the several California adjusted gross income tiers
• Have filed your 2020 tax return by Oct. 15, 2021
• Have not been eligible to be claimed as a dependent in the 2020 tax year

The money you pocketed Friday or are set to receive by early next year ranges depending on how you filed your taxes plus your annual income.

How much will I get paid?

Here’s how much you qualify for under California’s new inflation relief plan, according to the Franchise Tax Board’s website, last updated Sept. 29:

JOINT RETURNS

1. Income of $150,000 or less: $1,050 with dependent or $700 without.
2. Income of $150,001 to $250,000: $750 with dependent or $500 without.
3. Income of $250,001 to $500,000: $600 with dependent or $400 without.

HEAD OF HOUSEHOLD

1. Income of $150,000 or less: $700 with dependent or $350 without.
2. Income of $150,001 to $250,000: $500 with dependent or $250 without.
3. Income of $250,001 to $500,000: $400 with dependent or $200 without.

SINGLE FILERS

1. Income of $75,000 or less: $700 with dependent or $350 without.
2. Income of $75,001 to $125,000: $500 with dependent or $250 without.
3. Income of $125,001 to $250,000: $400 with dependent or $200 without.

The Franchise Tax Board has a “Middle Class Tax Refund” calculator California residents can use to estimate their upcoming payment and whether or not they qualify.

When will I get paid?

Roughly 90% of the direct deposits for California’s “Middle Class Tax Refund” are expected by the end of October.

Direct deposits will be issued first through Oct. 25 to previous Golden State Stimulus recipients, according to the Franchise Tax Board. The second round of direct deposits should hit accounts between Oct. 28 and Nov. 14 for non-GSS recipients.

Debit cards will be mailed between Oct. 25 through Jan. 15.

Franchise Tax Board Spokesman Andrew LePage said nearly 95% of all stimulus checks — “direct deposit and debits cards combined” — should be issued by the end of the year.

Who receives a debit card vs. direct deposit?

If you qualify for the refund, your payment will either reach you in a direct deposit or a debit card.

You’ll receive a direct deposit, according to the Franchise Tax Board’s website, if you if 1. e-filed your 2020 tax return and 2. received your refund by direct deposit.

The rules surrounding who gets a debit card a more extensive. You’ll receive a debit card, according to the Franchise Tax Board’s website, if the following apply to you:

• Filed a paper return
• Had a balance due
• Received your Golden State Stimulus payment in a check
• Received your tax refund by check regardless of filing method
• Received your 2020 tax refund by direct deposit, but have since changed your bank or bank account number
• Received an advance payment from your tax service provider or paid your tax-preparer fees using your tax refund

This story was originally published October 7, 2022 at 5:30 AM with the headline "Did you get your California inflation relief money? Here’s a breakdown on payments."