The latest round of $600 payments issued by California will finalize the state’s pandemic stimulus program on Tuesday, the Franchise Tax Board said.
The 180,000 payments in this latest round, worth about $127 million, started in late December and were expected to trickle in through January, the agency said. An earlier round of 794,000 GSS II payments worth some $568 million took place between December 13 and 31.
Since the end of August, the Golden State Stimulus II Program has issued some 8.2 million checks and direct deposits worth just over $5.9 billion. The program is part of Gov. Gavin Newsom’s pandemic recovery plan. The $600 payments were for middle-income California residents earning less than $75,000 adjusted gross income. Eligible families received an additional $500 for dependents.
Early in the program, most direct deposit incentive payments were distributed to residents who filed their 2020 taxes electronically and provided a bank account for the tax return deposit.
But some eligible recipients, such as Joe Rocca in San Clemente, never received an instant deposit and wondered if a payment would come in at all. “Another beautifully executed program by our state government,” he said in november.
Rocca informed us that his payment came in at the end of December in the form of a paper check.
“We got it a week or so ago,” he said. “Just two months after we should have gotten it. Better late than never.”
The state also launched another pandemic program called Golden State Stimulus I that went to lower-income residents who made less than $35,000 in AGI.
We’ve asked the Franchise Tax Board to update us on where the program stands now. Media contact Andrew LePage with the FTB offered these answers:
Q: How many payments were made in December before January 1, 2022?
A: Between December 13 and December 31, approximately 794,000 GSS II checks worth more than $568 million were sent and approximately 9,000 direct deposits worth approximately $6.1 million were issued on December 10.
The final round: Between December 27 and January 11, 2022, the state will send approximately 180,000 GSS II checks. Also, on December 24, the state issued about 1,400 GSS II direct deposits. Combined, the approximately 181,400 GSS II payments in the latest round are valued at approximately $127 million.
Q: How many payments will be made in 2022?
A: In the last scheduled round, GSS II payments must be sent between December 27 and January 11. A relatively small number of payments will continue after January 11 (more on that below.)
Q: The total amount of payments since the start of the GSSII program?
A: As of the latest round, the state has issued or announced a total of more than 8.2 million GSS II checks and direct deposits valued at just over $5.9 billion.
Currently, the vast majority of GSS II payments have been made or announced.
Recently, we used a very rough estimate of a total of 8.5 million GSS II payments, when they were all spent. The latest trends indicate that the final total could be between 8.3 million and 8.4 million GSS II payments.
Q: Any leftovers to note?
A: FTB continues to work on a relatively small number of tax returns that require additional processing to ensure eligibility for various reasons, and an unknown number of ITIN filers have until February 15, 2022 to file their state returns to be eligible. come for GS. These are ITIN applicants who did not have an ITIN, but applied for one before October 15, 2021, the tax return deadline.
Check your zip code: According to the GSS II website, the distribution schedule for this last week goes to residents with zip codes ending in 928-999.
Here’s the fine print
Excluded from the payments are those whose income is derived solely from benefits such as Supplemental Security Income (SSI) and State Supplementary Payment (SSP) and the Cash Assistance Program for Immigrants (CAPI), Social Security, CalWorks, unemployment, state disability insurance (SDI), and VA disability.
For an estimate of your California stimulus payment, visit: ftb.ca.gov.