$1,050 Stimulus Checks Being Sent Out In October

Dayana Sabatin

Photo by John Guccione www.advergroup.com

In California, there are millions of taxpayers that are supposed to receive a direct payment of up to $1,050 in October in order to fight inflation and the many challenges it continues to bring.

Inflation hit a record high in July, reaching 9.1% compared to July 2021 prices. This relief is supposed to reach the pockets of approximately 23 million residents of California.

If you choose to file your taxes electronically and choose to have a direct deposit, then you will see the money arrive between October 7 and October 25. However, those who didn't choose direct deposit will be issued a debit card.

According to NBC Bay Area, California's Franchise Tax Board is expecting about 90% of the payments to be made by the end of October.

To figure out whether or not you will be receiving a payment, you must have earned less than $75,000, and that will get you $350 as well as another $350 dollars if you have any dependents. If you're in a partnership, there is a combined income limit of $150,000.

So ultimately, individuals earning between $75,000 and $125,000 will get $250 each, plus another $250 if they have dependents.

In other states like Colorado, tax filers will be receiving a payment of either $400 or $800 depending on their filing status, with the former being for individual filers and the latter being for joint filers.

In Delaware, the state is scheduled to issue a tax rebate at the end of May. Individual filers will receive $300, while those who choose to file jointly can aim for a $600 rebate.

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