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California Residents Can Expect Inflation Relief Checks as Soon as Oct. 7

by
Bob Mason
on
9/28/2022
California Residents Can Expect Inflation Relief Checks as Soon as Oct. 7

Rising inflation has wreaked havoc on household budgets throughout the United States. Through August 2022, annual inflation hit an astounding 8.3% according to data from the federal Department of Labor. 

Now, however, California residents are about to see some relief from the cost of living increase that has impacted people across all demographics. 

A new report from Sacramento’s ABC 10 indicates that inflation relief checks worth as much as $1,050 could be deposited into Californians’ accounts as soon as October 7, 2022. 

The news outlet shared the following details about who qualifies for the stimulus:

Here’s the criteria to qualify for the payments:

  • Filed your 2020 taxes by Oct. 15, 2021
  • California resident for more than half of 2020 tax year
  • Not claimed as dependent
  • Live in California now

However, these qualifications can vary depending on whether you are claiming dependents. Those who are married and filing jointly or are the head of the household need to make less than $500,000 a year. People who are single or married and filing separately need to make less than $250,000.

Check amounts depend on people’s 2020 tax return information, ranging from $200 to the maximum sum of $1,050. Couples who are married and filing jointly can receive between $400 and $1,050. 

People filing as head of household, surviving spouse, or individual can receive payments between $200 and $700. Additional details about the tax refund are available via the California Franchise Tax Board.

Eligible residents who did not e-file their 2020 taxes or receive direct deposit previously are expected to be sent MCTR debit cards. 

ABC 10 was told these cards will be mailed between October 25 and December 10.

Do you expect to receive an inflation relief check from the State of California?

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Bob Mason

Bob Mason

Bob Mason is the founder of Coast Financial Services Inc. servicing both the Santa Cruz, and San Jose areas. Bob Mason is a skilled financial professional who is fully equipped to assist any of your accounting needs. Founding his firm in Santa Cruz, Bob understands the importance of small businesses and how they form the backbone of the area. Coast Financial Services, Inc. has been dedicated to the growth and profitability of businesses in Santa Cruz for 17 years. To learn more about Bob Mason and the rest of his team, visit their website.

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