The Stimulus Checks In California: Round 2 Of The Golden State Stimulus
California has started to send out the 2nd round of the Golden State Stimulus checks from the 27th of August.
Gov. Gavin Newson has signed the $100Billion California Comeback Plan that includes this round of checks. This was initiated by Newsom and aims to push the economy and support the stressed residents. These payments are just arriving before the governor will face an election on the 17th of September.
Newsom has stated that they are harnessing a large surplus and are using that to make huge investments in the form of stimulus checks all over the board. This will help the people come back from the bad times during the pandemic and will help them build up everything. The proposal offered dividends that might be paid for future generations.
How Likely Is A Fourth Stimulus Check
Don’t hold your breath, according to Wall Street analysts.
For one, the Biden administration has focused on infrastructure spending to spark economic growth, betting that an investment in roads, trains and other direct investments will help get people back to work and spur the ongoing recovery.
Secondly, economists have pointed fingers at relief efforts such as the three rounds of stimulus checks for contributing to inflation. Because Americans had cash in their pockets, they boosted spending on goods such as furniture, cars and electronics. Combine that with the supply-chain crunch, and the result was sharply higher inflation, according to economists.
Without new stimulus efforts on the horizon, it’s likely that inflation could moderate in 2022, according to Brad McMillan, the chief investment officer at Commonwealth Financial Network. “One cause of inflation has been an explosion of demand driven by federal stimulus,” he noted in a December report. “But that stimulus has now ended.”
He added, “Yes, we will continue to face inflation and supply problems, but they are moderating and will keep doing so.”
Golden State Stimulus : New Payment Information
The state of California is in the process of sending Golden State Stimulus payments to about 9 million eligible people. So far, the states Franchise Tax Board has sent two rounds of payments to about 2.6 million people.
The next round of GSS payments will go out on Tuesday, Oct. 5, according to Andrew LePage with the FTB. This round will include direct deposit payments as well as the first mailed checks to go out. LePage said direct deposits typically show up in accounts within a few business days. FTB advises people expecting mailed checks to allow up to three weeks for them to arrive.
At this point, the FTB is not sure how many payments it will be able to send on Oct. 5. Future payments will go out every two to three weeks after that, but those dates have not yet been determined. The state is also working on a new schedule for paper checks.
The hope is to get all Golden State Stimulus payments out by the end of the year.
In order to receive the payment, people need to file a 2020 tax return. The deadline to file is Friday, Oct. 15.
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How Should I Use My Stimulus Check
Make sure your money stretches by using your California stimulus check wisely. Invest in yourself, your business, or your career. This way, your money will go the extra mile.
Weve outlined a few ideas of how to use your stimulus check. But no matter what, the underlying theme is to put your money towards something that will help you make more money.
The Evolution Of The Golden State Stimulus
By February, with the states revenue estimates swelling, the Legislature negotiated and approved an even more generous $3.8 billion stimulus payment plan that included extra aid for undocumented workers.
Under this plan, the state also sent $600 payments to certain Californians living in poverty regardless of whether they work. That included very low-income families with children enrolled in CalWorks, as well as recipients of SSI or the states alternative for some immigrant groups, known as the Cash Assistance Program for Immigrants.
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Some Updated Info For Californians On Ssi Who Are Waiting For Their Golden State Grant Checks
It seems the California senate budget committee is aware of the federal foot-dragging to get stimulus money out to people on SSI. The feds seem to be also less than forthcoming when it comes to working with the California government to get the Golden State Grant out to California residents on SSI.
The committee is proposing a bill called AB 213, which would empower the state government to issue the $600 checks without further federal involvement. The payments would be added to each recipients regular monthly SSI payment. Hopefully this will speed things the fuck up!
You can read a simple summary of the proposed bill below. Its at the end of the PDF.
Stimulus Checks In California: Who Is Eligible
Both the chamber in the Golden State had approved this round of stimulus checks. The first half was passed in February and sent $600 to the residents who earned less than $30,000 annually. This included immigrants who were ineligible for the fed stimulus programs.
The July bill might send $600 checks to all the residents with an income less than $75,000. The people who had received the first round will not qualify for this additional $600. The people who have dependents and families that are undocumented will claim $500 checks.
The total cost of these payments is close to $8billion and is the most important thing in Newsoms proposal. This move was quite important as it addresses the inequities laid bare by the pandemic.
The State legislature had extended their eviction moratorium till 30th September 2021. The Supreme Court had ruled the end of the fed eviction moratorium but it did not affect the one in the Golden State.
Newsom had tanked everyone after the bill was passed as he believes it to be the countrys largest rental assistance package.
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You Receive Social Security Or Other Benefits But No Extra Income
People who receive Social Security, CalWorks and CalFresh benefits, Supplemental Security Income/State Supplementary Payment/and Cash Assistance Program for Immigrants, State Disability Insurance and VA disability benefits, or unemployment income generally do not qualify for a GSS II payment if those benefits are their only income source, according to the state, noting that those forms are not included in AGI.
However, if the recipient has other sources that do count as adjusted gross income, they may qualify to receive a stimulus check.
Where Can I Find Assistance If I Dont Qualify For The Golden Stimulus Check
Do you find yourself without a California stimulus check but youre still in need of extra cash? There are ways to get money now if you need it!
For instance, MoneyLion offers a full suite of financial tools to help you out. If you need money now, our Instacash program is the most ideal option. Instacash is a great program where you can get cash advances of up to $250, all without having to agree to hard credit checks.
Any type of recurring payments that are deposited into your account can help you qualify for Instacash. This includes alimony, child support, and even unemployment benefits! You can also open a RoarMoney account and have the convenience of a banking app and a loan in one.
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California Adjusted Gross Income
You must have $1 to $75,000 of California AGI to qualify for GSS II. Only certain income is included in your CA AGI . If you have income that’s on this list, you may meet the CA AGI qualification. To receive GSS II and calculate your CA AGI, you need to file a complete 2020 tax return by October 15, 2021. Visit Ways to file, including free options, for more information.
Income included in CA AGI
Generally, these are included in your CA AGI:
- Wages and self-employment income
- Gains on a sale of property
Visit Income types for a list of the common types of income.
Income excluded from CA AGI
Generally, these are not included in your CA AGI:
- Social Security
- Supplemental Security Income /State Supplementary Payment and Cash Assistance Program for Immigrants
- State Disability Insurance and VA disability benefits
- Unemployment income
You would generally not qualify for GSS II if these were your only sources of income. However, if you have income that is included in CA AGI in addition to this list, you may qualify for GSS II.
If you receive Social Security
You may be wondering whether or not you qualify for GSS II if you receive Social Security income. Social Security income is not included in CA AGI. However, if you have $1 or more of CA AGI , you may qualify for GSS II.
Financial Burden Can Fall To Caretakers
Sydney Chandler manages the finances and healthcare of her cousin, Chris Batiste, who is paralyzed. Batiste breathes through an apparatus and communicates with Chandler through a laptop, blinks and head movements.
Chandler, who is a Los Angeles-based writer, said she was livid to learn that SSDI recipients were left out of the state stimulus. To her, it was just another obstacle in the arbitrary and bureaucratic maze that people with disabilities face in trying to attain a liveable income.
Caretakers often carry a significant financial burden. Batiste receives $975 per month in SSDI, and Chandler said she contributes over $1,000 more each month to help cover his rent and full-time nursing.
If it wasnt for me, he would be one of the homeless, Chandler said, and youre telling me that you couldnt set up a portal for SSDI to input their information?
This article is part of the California Divide, a collaboration among newsrooms examining income inequality and economic survival in California.
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Other Problems With Your Payment
If you received payment and have a problem, follow these steps:
California Stimulus Checks: See When Your Zip Code Will Receive A Payment
Stacks of cash are seen in a file photo.
More than 1 million Californians who qualify for a Golden State Stimulus check but havent received one yet could see a payment as soon as this week.
Thats because the state is preparing to distribute another round starting this Friday.
A total of 1.15 million payments valued at $857 million will be sent out in this latest batch, according to the California Franchise Tax Board.
The disbursement includes 400,000 payments that will be directly deposited into bank accounts this Friday, as well 750,000 paper checks that will be mailed out starting next Monday.
For those anticipating a payment, officials note that it can take several days for direct deposits to show up in bank accounts, and up to three weeks to receive a check by mail after its sent.
Under the GSS II program, California has been sending out checks of up to $1,100 $600 for an individual plus an extra $500 for a qualifying dependent to eligible residents who earned $75,000 or less last year. The funds were approved by lawmakers under the states last budget.
To date, California has issued about 4.5 million Golden State Stimulus II checks, valuing $3.2 billion, according to the Franchise Tax Board. Of those, the state distributed 3.3 million payments through direct deposit and 1.2 million more by mail.
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When Will I Get My Check
Payments will go out by the last three digits of the ZIP code on your 2020 tax return.
Some payments may need extra time to process for accuracy and completeness.
If your tax return is processed during or after the date of your scheduled ZIP code payment, allow up to 60 days after your return has processed.
Here are the remaining zip codes in which checks have yet to be mailed:
- ending in 585-719: November 29, 2021 through December 17, 2021
- ending in 720-927: December 13, 2021 through December 31, 2021
- ending in 928-999: December 27, 2021 through January 11, 2022
Most direct deposit stimulus payments were issued between September 1, 2021 and October 31, 2021.
If you filed your tax return after September 1, 2021, allow up to 45 days after your return has processed.
You Receive Your Ca Tax Refund By Mail
California began issuing batches of stimulus payments by direct deposit back in late August but only started sending paper checks out by mail earlier this month. As a result, those who typically get their state refund through the mail should expect a delay possibly even through the new year.
Additionally, where you live can also affect when you get the payment, as mailing times are based on the taxpayers last three digits of their ZIP code.
The Franchise Tax Board provided the following timeline of when it expects mailed payments to go out:
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Second Golden State Stimulus Requirements
1. You must have filed your 2020 state income tax return by October 15, 2021, and have a California AGI of a maximum of $75,000. You can see your California AGI on Line 17 of Form 540. If you filed Form 540 EZ, refer to Line 16. Since your AGI cant exceed $75,000 to receive the second stimulus, your wages or the income earned cannot exceed the same figure.
2. You must be a California resident meaning that you must have lived in the State of California for more than half of the tax year. You also must be a California resident at the time of the payment issued. What this means is that if you were out of the state for more than three months during the tax year, you wont get the second stimulus.
3. You must not be claimed as a dependent by another taxpayer. If youre under the age of 18, you arent qualified for the stimulus checks.
What About Round Two
For the second round of payments, Californians must have an income between $1 and $75,000, opening up eligibility to more middle-class residents.
Qualifying income includes wages and self-employment income, tips, interest from things like savings accounts, dividends, rental income, pension and retirement income, and profit earned from property sales.
What doesnt count? Income from Social Security, CalWorks and CalFresh benefits, Supplemental Security Income and/or State Supplementary Payment , Cash Assistance Program for Immigrants , State Disability Insurance , VA disability benefits, and unemployment income.
Need help figuring out if you qualify?Try this estimator from the Franchise Tax Board.
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California Department Of Social Services
The California Department of Social Services provides additional information on the Golden State Grant Program and the most up-to-date answers to many of your questions, including:
- Do I qualify of the Golden State Grant Program ?
- How will I receive the Grant payment?
- When will I receive the Grant payment?
More Than Half The Year
Just because someone lived with you for six months does not mean that the person lived with you for more than half the year. A year has 365 days, and more than half the year is 183 days.
To determine how many days your home was your qualifying personÃ¢â¬â¢s main home, follow these guidelines:
- If you were not married and not an RDP at any time during the year, count all of the days that your qualifying person lived with you in your home.
- If you were at any time during the year and received a final decree of divorce, legal separation, or your registered domestic partnership was legally terminated by the last day of the year, add together:
- Half the number of days that you, your spouse/RDP, and your qualifying person lived together in your home.
- All of the days that you and your qualifying person lived together in your home without your spouse/RDP .
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Could My Stimulus Be Seized Or Offset To Cover Debt I Owe
According to the Franchise Tax Board, the state’s stimulus payment is not subject to garnishment for child support or spousal support, for example, or offset for debts owed to state agencies.