Many locals are experiencing financial difficulty as a result of the rising cost of living and the unpredictability of the economy. But there is assistance on the way! In order to provide assistance to families and individuals with low incomes, the California Franchise Tax Board (FTB) has released a brand new financial relief program. We would like to introduce you to the California Stimulus Check of $6,000.
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How Does it Work?
This initiative is intended to serve as a safety net for those individuals who are in most need of it. Residents who are eligible will receive payments of $500 per month for a period of twelve months, for a total of $6,000. Since June 2023, the payments have been ongoing, and they are scheduled to continue until November 2024. What are the requirements to be qualified for this financial assistance, and how can you get your hands on it?
Am I Eligible For Stimulus check?
- Be a permanent resident of California.
- Have an annual income of $75,000 or less or $150,000 for married couples filing jointly.
- Have filed your 2020 income taxes by October 21, 2021.
- Have a Social Security Number.
Know Income Limits
- Individual filers: $75,000 or less per year
- Joint filers: $150,000 or less per year
If you earn above these limits, you won’t be eligible for the stimulus check.
How Will I Receive the Payment?
Checks for the stimulus package will not be distributed in a single lump sum. A monthly payment of $350 or $700, depending on whether you are married and filing jointly, will be provided to you instead. You will also receive an additional $350 per month for up to two children who are dependent on you. This equates to a potential monthly revenue of $1,050 for households with a single child!
What Can I Use the Stimulus Check For?
The California Stimulus Check is designed to cover essential expenses like Groceries, Healthcare, Education, Rent/Mortgage & Utilities.
What’s the Timeline For This?
The FTB began sending payments in June 2023 and will keep doing so until November 2024. If you are qualified, you can count on getting your payments on time every month. If there are delays, don’t worry. Just wait three more work days before contacting the FTB.
A Helping Hand
This program is set to benefit around 8.3 million low-income households in California. The stimulus checks are designed to cover essential expenses, helping families balance their budgets more effectively.
While the payments scheduled for this month are still pending, officials have assured us that they’ll be released soon. Keep an eye on your mailbox, your financial lifeline is on its way.
Additional Resources
If you’re struggling to make ends meet, there are other resources available to help. You can reach out to Local non-profits, Community organizations and Government agencies.
FAQs
What is the California Stimulus Check?
A financial relief program for low-income residents.
How much is the stimulus check?
$6,000, paid in monthly installments of $500.
What are the income limits?
$75,000 for individuals, $150,000 for joint filers.
Do I need to file taxes to be eligible?
Yes, you must have filed your 2020 taxes by October 21, 2021.
How will I receive the payment?
Via direct deposit or check.
