In ca, Millions of taxpayers queue to receive a direct payment of up to $1,050 from OctoberTo help their families cope with the rising costs of inflation and the challenges it brings.
Record high inflation in July 2022
during the month of July, Inflation reached a record high of 9.1% compared to July 2021 pricesThis relief is expected to reach the surrounding pockets 23 million California residents.
Those in the state who file their taxes electronically and choose to have one Direct Deposit will see funds arrive between October 7th and October 25thA debit card will be issued to those who have not opted for direct deposit.
The California Franchise Tax Board expects about 90% of the payments to be made by the end of October, according to the NBC Bay Area.
How much money will taxpayers receive?
California If they earn less than $75,000 they will get $350 each and another $350 if they have dependentswith an income limit of $150,000 for a married couple.
Individuals who earn between $75,000 and $125,000 will each get $250plus another $250 if there are dependents.
Pairs Achieving between $250,000 and $500,000 you will receive a payment of $200 eachwith another $200 given if there are children living in the house.
The same amount that an individual who earns between $125,000 and $250,000 would receive.
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