Another wave of Golden States Stimulus Checks has officially been approved by the California legislature. Eligible Californians could claim a $600 one-time payment check sometime soon. Here are the details on the California-exclusive fourth stimulus check.
In their effort to support families affected in the pandemic, California is allocating its budget from the American Rescue Plan to create a one-time stimulus check payment, called Golden State Stimulus Checks, for eligible local residents. This payment comes in different waves.
AS reported that the first round of Golden State Stimulus Checks was approved in February and promptly sent to California tax filers who earn $30,000 or less AGI.
$600 Stimulus Payments Approved in California
If you have not received your $600 Stimulus Check, then don't worry! A second wave payment is definitely coming your way.
SFGATE tweeted that "Both chambers of the California legislature approved Gov. Gavin Newsom's plan to send additional $600 stimulus checks to residents across the state late Monday night, sending the legislation to the governor's desk."
The bill approved says that a $600 check will be given to state residents with an income of $75,000 a year or less. Also, "adults with dependents" and "undocumented families" can claim an additional $500 check on top of the Golden State Stimulus Check.
The whole program is estimated to cost around $8 billion.
Stimulus Check Eligibility Requirements
The FTB said the payment process could take somewhere between 45-60 days after the budget has been passed.
Remember that this is the second wave of Golden State Stimulus Checks. Eligible individuals who received their money in the first wave will not qualify to receive the current payment.
To qualify for the Golden State Stimulus Check, recipients must:
- Have filed your 2020 taxes
- Be either: A CalEITC (California Earned Income Tax Credit) recipient or an ITIN (Individual Taxpayer Identification Number) filer who made $75,000 or less (total CA AGI)
- Live in California for more than half of the 2020 tax year.
- Be a California resident on the date payment is issued.
- Not be eligible to be claimed as a dependent
You can qualify for CalEITC if you
- Have taxable earned income up to $30,000
- Not use "married/RDP filing separately" if married or RDP
- Meet all other qualifications here
Fourth Stimulus Check Update
While Californians are getting another round of payments, the rest of the U.S.A. is still awaiting for an update on a possible fourth stimulus check.
Unfortunately, according to Cnet, it is unlikely a fourth stimulus check will be approved. The report cited that with the economy recovering, it is unlikey for new direct payments to be approved.
A fourth stimulus check is also not part of Biden's American Rescue Plan, so citizens should not raise their hopes up that there will be another payment after the $1,400 third stimulus check payments.
How to Monitor Other Payments
With that said, you can still monitor some of the ongoing payments directed to your account. Extra money, such as the Plus-Up payments and Recovery Rebate Credits would automatically go to people whose 2020 tax returns show significant changes.
You can use this new Online Portal by the IRS to monitor the most recent financial support being provided with Child Tax Credits. You can also use this tool to check if you properly registered your bank account and address details where your money could be sent.
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