$200 to $1050 could be coming your way if you live in California

Mark Star

Photo byStella via Getty Images

Stimulus checks are being sent out.

If you live in California and are having financial problems, you are not alone. Driven by the increased costs of housing, health care, and food, inflation has gone up to 8.2 percent compared to the same time last year.

According to the U.S. Bureau of Labor Statistics, Californians are paying one of the highest prices in the country. This includes the price of gas and other sources of energy.

The good news is that thousands of California residents are now getting a one-time middle-class tax refund.

Who will get $1050?

Only eligible taxpayers will be given a payment of $200 to $1050. The money will be sent either through a debit card or direct deposit.

Inflation relief payments began going out to Californians some weeks ago. If you have been a taxpayer, you are likely to receive up to $1050 depending on your annual income, filing status, household size, and residency.

How does it actually work?

Before I explain how it works, let me tell you that the payout is part of Newsom's $12 billion relief efforts. If I am not wrong, about 3.5 million Californians will be given relief funds. Some of you might have already received it and others would have to wait for some more time.

Eligibility primarily depends on how much money you are earning, what are your sources of income and how many dependents you have. The amount has three different tiers for single or joint tax filers.

  1. A single tax filer will get $350 if the income is less than $75,000 per year
  2. If the single person's annual income is $75,001 to $125,000, they will be given $250.
  3. $200 will be paid to the single tax filer if the earnings are between $125,001 and $250,000 per year.
  4. In the case of joint tax filers, $700 will be paid to the people whose yearly income is less than $150,000.
  5. They will get $500 if they are earning $150,001 to $250,000 every year.
  6. Besides, $400 will be paid if the annual income is $250,001 to $500,000.

It is worth mentioning that if the joint or single filers have one or more dependents, they will be given an extra $350, $250, or $200, based on the tier.

Have you received the money or you are still waiting for it?


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