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Money in the Bank: California's Middle Class Tax Refund payments coming as early as Oct. 7

Some families may get up to $1,050 in the coming weeks.

CALIFORNIA, USA — 95% of the people getting California's Middle Class Tax Refund (MCTR) are expected to have that money in their pocket by the end of the year, and in many cases, much sooner than that.

The Franchise Tax Board said the first wave of MCTR payments is going out to people who received the Golden State Stimulus payments. Those payments are expected between Oct. 7 and Oct. 25 via direct deposit. 

Direct deposit payments will go to eligible taxpayers who e-filed their 2020 California tax return and got their refund via direct deposit. The remaining direct deposits will be happening between Oct. 28 and Nov. 14.

Officials said the about 90% of the MCTR direct deposits will be issued in October. For anyone who didn't e-file or use direct deposit, they'll, generally, be getting a MCTR debit card.

"MCTR debit cards will be mailed between October 25 and Dec. 10 for Californians who received GSS I and II, with the balance of the MCTR debit cards mailed by Jan. 15, 2023," the Franchise Tax Board told ABC10 in an email.

95% of payments are expected to be issued by the end of the year, according to the Franchise Tax Board.

More detailed information regarding the payment schedules is expected early next month for debit card recipients. In the meantime, officials are encouraging people to keep an eye on the MCTR website, which includes a payment calculator. It'll be updated periodically.

Some families may get up to $1,050 in the coming weeks.

Here’s the criteria to qualify for the payments:

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

Qualifications vary based on income and whether you are claiming dependents.

For example, married and filing jointly or the head of the household need to make less than $500,000 a year. Single or married and filing separate need to make less than $250,000.

Use this calculator to estimate what your payment may be.

   

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