![]() (Married couples filing separately, however, have an income level capped at $37,500 per person and can get $300 and $550 if they have at least one dependent, according to the state’s online tool to check eligibility. That means even married couples filing jointly and those who file as heads of household are also restricted to the $75,000 limit. Unlike the federal stimulus checks, there is no higher income threshold for various taxpayer filing statuses. Those with an SSN who claimed a credit for at least one dependent are eligible for another $500 payment, while anyone with an ITIN who claimed a credit for a dependent can get an additional $1,000, state tax officials say. Some of the nearly 6 million people who qualified for the first check sent out by the state - Golden State Stimulus I - can also get the second payment. You also must have either a Social Security Number (SSN) or an Individual Taxpayer Identification Number (ITIN). To qualify for the payment, you need to have been a California resident for more than half of last year, still live in the state, have an adjusted gross income between $1 and $75,000, have wages of $75,000 or less, and cannot be claimed by someone else as a dependent. The state has a Wait Times dashboard with information on tax return and refund processing time frames. FIRST STIMULUS CHECK AMOUNT FULLIf you don’t receive the full payment you’re entitled to, file and claim the Recovery Rebate Credit on your 2020 tax return. Children under age 17 will receive 600 each. Couples who earn less than 150,000 per year will receive 1,200. This story has been updated with more details about the federal stimulus checks.ĬNN’s Katie Lobosco and Tami Luhby contributed to this report.Biden administration extends pause on student loan … Individuals who earn 75,000 or less per year will receive 600. For the initial stimulus payment, in spring 2020, eligible individuals received 1,200 (2,400 if married and filing jointly), with an additional 500 for every dependent child under 17. In 2008, when the government distributed similar stimulus money, deposits were made over a three-week period, while paper checks were sent through the mail over a 10-week period.Īccording to the legislation, the IRS has until the end of 2020 to transfer the payments. For the second stimulus payment, households that meet the income requirements will receive 600 for every adult and dependent child under 17. In the past, it has taken longer to send checks than make direct deposits. Individuals with the lowest income, based on adjusted gross income, will receive their checks first. The paper checks will be issued at a rate of about 5 million per week, the memo says. Meanwhile, the IRS expects to start issuing paper checks the week of May 4, according to the House Democratic memo. That includes individuals who earned less than $12,200 in 2019 and couples who earned less than $24,400. The income thresholds would be doubled for couples.įor those who haven’t filed a return for either 2019 or 2018, the IRS urges them to do so quickly including for those who don’t normally need to file a tax return. The amount will then be reduced by $5 for every additional $100 of adjusted gross income, and those making more than $99,000 will not receive anything. But payments start phasing out for individuals with adjusted gross incomes of more than $75,000. FIRST STIMULUS CHECK AMOUNT PLUSUnder the economic relief package, individuals are due up to $1,200 and couples will receive up to $2,400 – plus $500 per child. The distributions are part of the $2.2 trillion economic relief package passed by Congress in March. Others – including people who haven’t filed returns, authorized direct deposits, or receive Social Security – will probably have to wait weeks or months before seeing their money. We know many people are anxious to get their payments we’ll continue issuing them as fast as we can,” the IRS wrote Saturday evening on Twitter.ĭeposits will continue in the days ahead, starting with people who have filed tax returns for 2018 or 2019 and authorized direct deposit. “#IRS deposited the first Economic Impact Payments into taxpayers’ bank accounts today. The Internal Revenue Service sent out the first wave of stimulus checks to Americans on Saturday, the agency said. ![]()
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