Gas Stimulus checks: Who will get these direct payments on October 7? (2024)
SAM
Actualizado
Gas prices are again on the rise in the United States, but California citizens are set to receive a relief in the first week of October.
Eligible Californians will automatically receive the one-time payment named Middle Class Tax Refund (MCTR) in the state government's bid to provide citizens with a much-needed financial boost.
According to abc30, the average price for a gallon of gas in the state is up nearly 35 cents from last week, with prices being as high as 6.29 dollars at some gas stations.
"Predominantly, what we are seeing in the western parts of the United States are issues with oil refineries, both planned maintenance and unplanned maintenance, which is affecting the supply," American Automobile Association (AAA) spokesperson John Treanor noted.
The stimulus payments are expected to be sent out from October 7 through January 2023.
Individual filers who earn 75,000 dollars or less will receive 350 dollars, while couples who earn 150,000 dollars or less will get 700 dollars and families with at least one dependent will be sent out an additional 350 dollars.
"Direct deposit MCTR payments for Californians who received Golden State Stimulus (GSS) I or II are expected to be issued to bank accounts from October 7, 2022 through October 25, 2022, with the remaining direct deposits occurring between October 28, 2022 and November 14, 2022," the California state government informed.
"We expect about 90 percent of direct deposits will be issued in October 2022. MCTR debit cards are expected to be mailed between October 25, 2022 and December 10, 2022 for Californians who received GSS I and II, with the remaining MCTR debit cards mailed by January 15, 2023.
"We expect about 95 percent of all MCTR payments - direct deposit and debit cards combined - to be issued by the end of this year."
The stimulus payments are expected to be sent out from October 7 through January 2023. Individual filers who earn 75,000 dollars or less will receive 350 dollars, while couples who earn 150,000 dollars or less will get 700 dollars and families with at least one dependent will be sent out an additional 350 dollars.
The payments are based on income and family size. Single taxpayers who earn less than $75,000 a year and couples who file jointly and make less than $150,000 a year will receive $350 per taxpayer. Taxpayers with dependents will receive an extra $350, regardless of the total number of dependents.
Many of those who filed a 2020 California tax return by October 15, 2021, are eligible to receive one, but there are certain stipulations. For one, if you're single, your income must not exceed $250,000. Couples must stay under $500,000 in order to qualify for the cash.
What if I didn't get my stimulus check? If you believe you qualified for a Middle Class Tax Refund but didn't receive a payment, contact the Franchise Tax Board customer service line at 800-542-9332. It's open Monday to Friday from 8 a.m. to 5 p.m.
Stimulus payments are being issued by California's Franchise Tax Board (FTB) via direct deposit and debit cards. If you received either of the two previous Golden State Stimulus payments by direct deposit, you should have received your Middle Class Tax Refund by direct deposit between October 7 and October 25.
How do you know if you're eligible? The gas rebate program — including the income tiers — is based on 2020 tax returns. That means eligible Californians must have filed a California tax return by October 15, 2021.
The Form SCGR-1 and all related schedules must be completed and submitted to our office within three (3) years from the date of gasoline purchase before a refund can be considered. Schedules A and B/C are required with all claims for refund. Schedule D is required for claims utilizing the inventory method.
The amount you receive depends on various factors: If you qualify for CalEITC and file with an ITIN, you may receive either $600 or $1,200. Individuals who file with an ITIN and have an income of $75,000 or less may also receive $600 or $1,200.
You should be eligible for the Golden State Stimulus, if you are a California resident and: You received the California Earned Income Tax Credit (CalEITC) on your your 2020 tax return. You have an Individual Taxpayer Identification Numbers (ITINs) and have an adjusted gross income less than $75,000.
As you mentioned, the MCTR payment is not taxable for California state income tax purposes. Taxpayers or their tax preparers can refer to IRS Publication 525 (2022), Taxable and Nontaxable Income, to determine when the MCTR payment could be subject to federal tax in their situation.
You are eligible if you: Filed your 2020 California tax return by October 15, 2021. Meet the California adjusted gross income (CA AGI) limits. Were not eligible to be claimed as a dependent in the 2020 tax year.
People who didn't file taxes for 2020, including some seniors and disabled people, will be left out. People who can be claimed as dependents for tax purposes won't get their own payments. The payments also won't go to married or domestic partners who have an adjusted gross income over $500,000.
To be eligible for a refund, the individual or business must use the gasoline as specified in Revenue and Taxation Code section 8101. For further details and specific eligibility requirements, refer to Part 2 of Division 2, of the Revenue and Taxation Code.
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