Middle Class Tax Refund (MCTR) payments have begun going out to Californian since last Friday.
These one-time payments up to $1,050 per household (based on 2020 California “adjusted gross income” on your tax return) aim at providing relief from rising inflation to eligible California residents.
An estimated 8 million direct deposits will start arriving in bank accounts from October 7 through November 14, and an estimated 10 million debit cards will be delivered from October 25 through January 15.
If the 2020 tax return was filed electronically and a tax refund was issued by direct deposit, then the payment will be made the same way. All others will be issued on debit cards.
You can check your eligibility and anticipated amount on this link.
For more information, please visit the Franchise Tax Board’s (FTB) Middle Class Tax Refund (MCTR) website at taxrefund.ca.gov.
If you have any questions, please contact us.