The second round of Middle-Class Tax Refund payments goes out Monday to provide relief to Californians who filed their 2020 tax returns by last October.
The California Franchise Tax Board (FTB) began to issue Middle-Class Tax Refunds (MCTRs) of up to $1,050 to approximately 23 million eligible residents. The state will distribute 18 million payments, totaling $9.5 billion under the largest such program in the state’s history.
Just before launching the first round of payments, Gov. Gavin Newsom said, “We know it’s expensive right now, and California is putting money back into your pockets to help. We’re sending out refunds worth over a thousand dollars to help families pay for everything from groceries to gas.”
Payments will range from $400 to $1,050 for couples filing jointly and $200 to $700 for all other individuals depending on their income and whether they claimed a dependent. Refunds are available for ITIN filers, and those who file tax returns with an SSN, according to the FTB.
According to Newsom’s office, an estimated 8 million direct deposits will start arriving in bank accounts from Oct. 7 through Nov. 14, and an estimated 10 million debit cards will be delivered from Oct. 25 through Jan. 15.
The FTB expects about 90% of the MCTR direct deposits to be issued in October. MCTR debit cards are expected to be mailed between October 25 and Dec. 10 for Californians who received GSS I and II, with the balance mailed by Jan. 15, 2023.
About 95% of all MCTR payments – direct deposit and debit cards combined – are expected to be issued by the end of this year
For additional information and to determine your eligibility, visit taxrefund.ca.gov.