Have you been wondering about the same question, where did all the stimulus checks go?
We have an answer for you here.
The Golden State Stimulus II checks are going out to the residents of California, which is valued at around half a billion dollars. Some of the families are also receiving a holiday bonus as a part of the newest stimulus checks.
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Around 9,000 payments are being made which are worth $6.1 billion and were issued on December 10. This was stated exclusively by the California Franchise Tax Board.
As part of the latest round, about 794,000 checks worth another $568 million were being mailed from December 13 through December 31.
“This last year has been about helping our most vulnerable Californians,” Controller Betty Yee said.
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This last batch of stimulus payments will benefit people in the Sacramento area because the checks are sent out by ZIP code, she added. “What this has meant is my team working around-the-clock – days, evenings, weekends – to be sure that this work doesn’t stop.”
The California state has either announced or issued around 8.1 million GSS II stimulus checks worth $5.8 billion in total, as reported by the Franchise Tax Board.
The bulk of the payments have been issued by now and the spokesperson Andrew LePage stated that he expects there will be 8.5 million total payments for the program “when all is said and done.”
He said those estimates are rough since some tax returns have not gone through all eligibility and fraud checks and some Individual Taxpayer Identification Number (ITIN) filers have until February 15, 2022, to file their return.
Governor Newsom has stated that two from three of every California resident have qualified for the share of $12 billion in Golden State Stimulus checks. The program was initiated to help the Californians with low incomes and was expanded in July to cover additional people who earned $75,000 or less. Most of the people who did not qualify did not have to do anything other than file their 2020 tax returns.
The deadline for filing the 2020 state personal income tax returns was October 15, which was also the deadline to qualify for the stimulus checks.
What More Do You Need To Know About The Golden Stimulus Checks
You might be asking the question that how can you qualify for the Golden State Stimulus checks.
You need to file your 2020 tax returns before the 15th of October and have a California AGI of $75,000 or less. If you had received a check for the first round of Golden State Stimulus, you would not get other checks unless you have dependents. You need to prove that you have been a resident of California for more than half of the 2020 tax year and a resident of the state when the payment is issued. You also need to avoid being claimed as a dependent by someone else.
How Much Will I Get From The Golden State Stimulus II Checks?
Parents who have a Social Security number and who got money from the first round of Golden State Stimulus (aimed at people who earned less than $30,000) will get another $500. Undocumented parents who have an ITIN number, which means they were left out of federal stimulus programs, get $1,000.
Adults earning between $30,000 and $75,000 will get $600 if they do not have children and $1,100 if they do.
Again, people without kids who received a check from the first Golden State Stimulus program will not receive another check.
If you are married filing separately, this is where you can find information on how much you can get.
If you are still confused, you can check the Golden State Stimulus II estimator online to help you see how much to expect.
When Can You Expect The Golden State Stimulus Checks To Arrive?
The Franchise Tax Board has stated that the direct deposits would typically show up in your bank accounts within a few business days. A paper check could take up to three weeks to arrive.
The stimulus checks will not be scheduled until your tax return has been processed. You can review overall wait times for tax returns and refund processing timeframes here.
If you filed your tax return after September 1, expect up to 45 days after the return has been processed, the Franchise Tax Board says.
The paper checks are going out by the last 3 digits of the ZIP code on your 2020 tax return. You need to look at the “when you’ll receive your payment” section on the website, on “paper check timeframes” for more information.
If the last three digits of your ZIP code are 720-927, checks will be mailed from 12/13 through 12/31. If the last three digits of your ZIP code are 928-999, checks will be mailed from 12/27 through 1/11.
The schedule is based on the state’s ability to validate eligibility and protect against fraud.
Do You Have To Do Anything To Get Your Payment?
If you have already filed your 2020 tax return and are eligible for the stimulus checks, you don’t have to do anything else to receive a check in the mail or by direct deposit.
“Typically, you’ll receive this payment using the refund option you selected on your tax return,” the FTB says. “If you received an advanced refund through your tax service provider, or paid your tax preparation fees using your refund, you’ll receive your payment by check in the mail.”