If you live in California and haven’t received your Middle Class Tax Refund (MCTR) yet, it is on the way. According to the Los Angeles Times, the state has extended the schedule for direct payments to residents, allowing up until Feb. 14 to get the money into the right hands.
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The Middle Class Tax Refund is a large state-wide measure that has allotted $9.5 billion to working class families in California, according to the Times. Amounts disbursed vary between $200 to $1,050 depending on the information included in 2020 tax returns. Adjusted gross income, filing status (single, joint, head of household) and any dependents claimed will impact the potential payout.
Another key piece of information from the 2020 return used to process the tax refund is banking information. Any resident who included a checking or savings account and routing number on their electronic return generally received direct deposits as of Nov. 14, 2022, per the Times. Those who filed paper forms without banking information received their tax refund in the form of debit cards — most of these have been distributed as well.
However, the state is still processing and mailing outstanding payments, per the California Franchise Tax Board, since some cases needed extra review. As well, anyone that changed addresses since filing their 2020 return may be missing payments due to increased processing time. Eligible recipients in the two aforementioned categories are targeted for payment delivery by Feb. 14.
“Some payments required additional review and were, or will be, issued later. We anticipate that an additional 460,000 MCTR direct deposit payments will be issued by the end of this week,” a California Franchise Tax Board representative told the Times. Another spokesperson told local news station KCRA 3 that “the vast majority of MCTR payments will have been issued to eligible recipients by the end of January.”
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To date, 7 million Californians have received a direct deposit and 9 million more have received debit cards. According to the Times, couples who filed jointly will get anywhere from $400 to $1,050 while individual filers are receiving between $200 to $700 depending on AGI and dependents claimed. However, only residents who filed their 2020 tax return by Oct. 15, 2021, and have earned under $500,000 are eligible for the one-time payment.
The money aims to help California residents combat the increased expenses for gas and cost of living, per KCRA 3. If you have further questions about the status of your MCTR, consult the state website on the matter.
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