HomePersonal FinanceYour Bank Account Could Have a Extra Thousand Dollars This Week! Here's...

Your Bank Account Could Have a Extra Thousand Dollars This Week! Here’s How

Californians, watch your bank accounts: the Golden State Stimulus II package in California and the second round is set to hit bank accounts this week.

The payments, which are the second round of checks to go out to state taxpayers, are worth $600 each, with an option to receive an additional $500 by claiming a dependent.

Read more: Petition for Fourth Stimulus Check Almost Reaches 3 Million Signatures!

The original program was aimed to help low income families in California earning less than $30,000.

It was expanded in July 2021 to cover people making $75,000 or less.

If you live in California and already filed your 2020 tax return and qualify for the payments, you don’t have to do anything else to receive a check in the mail or by direct deposit.

Read more: Stimulus Checks: States in U.S. Distribute Hazard Payment to its Inhabitants

Those who received a check for the first round of Golden State Stimulus will not get another check for Golden State Stimulus II unless they have dependents.

The October 15 deadline for filing 2020 state personal income tax returns was also the deadline to qualify for the stimulus payments.

According to the FTB, direct deposits are being issued on October 29 with mailed checks beginning on November 1.

Read more: Seniors: You’ll Still Get Social Security Benefits Next Year

Those who qualify and do not have children will receive $600, while those with children will get $1,100.

Around 4.5 million Golden State Stimulus II payments have already been issued.

The California Franchise Tax Board expects to issue around nine million payments under the Golden State Stimulus II.

It’s currently unclear exactly what time they will be sent or cleared.

The Tax Board added that not all of the remaining tax returns have completed eligibility and fraud checks yet, so the total could change.

Now, 750,000 are being sent out beginning Monday and it could take three weeks to get them.

Read more: Biden’s New Spending Framework Has $555 Billion For Clean Energy, Focused on Incentives, Not Punishments

4.5 million checks have been sent so far for the Golden State Stimulus plan for California residents.

$857 million in total has been distributed and will be direct deposited or sent by paper check. The way you get them depends on how you filed your taxes.

Stay updated with more news here with us at the East County Gazette. 

Celine German Lagundi
Celine German Lagundihttps://theeastcountygazette.com/
Celine is an experienced news writer, artist, and advocate based in Cebu. She is passionate about pop culture and current affairs.
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