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Extended inflation relief payments in California: Where to expect yours?

As the state continues to provide additional Middle-Class Tax Refunds, California’s inflation relief payments will be prolonged.

Recently, state officials declared that checks will be distributed through the month of February. The initiative was introduced during the summer of 2022 and payments for inflation alleviation began in October.

California Inflation Relief Payments

The California Franchise Tax Board emphasized that the vast majority of participants will still get their payments by the program’s conclusion on January 14.

The FTB added that debit cards for people whose addresses have changed after they submitted their taxes for 2020 may be issued between January 30 and February 14.

In addition, the FBT will issue a second batch of Middle-Class Tax Refund payments to individuals possessing the necessary information for “further scrutiny.”

The state agency indicated that it expects to release an extra 460,000 MCTR direct deposit payments by the end of this week.

The inflation relief payments range from $200 and $1,050 based on income, tax filing status, and the number of dependents of eligible recipients.

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Middle-Class Tax Refunds

As the state continues to provide additional Middle-Class Tax Refunds, California’s inflation relief payments will be prolonged.

The Middle-Class Tax Refunds in California are one-time payments intended to alleviate the growing cost of essential commodities for state citizens.

Those who qualify for the payments will receive a check or debit card automatically. The FTB has collaborated with Money Network to deliver funds through debit cards.

Direct deposit payments will be provided to qualified individuals who submitted their California income tax returns for the year 2020. In the interim, payments on debit cards will be mailed to the remaining qualified taxpayers.

If the beneficiary filed a paper return, had debt outstanding, got their Golden State Stimulus payment by check, and received their tax refund by check regardless of filing method, they will get their payment on a debit card.

Typically, direct deposits are received within three to five business days. Some receivers’ debit cards will be mailed to them for up to two weeks.

In September, government authorities reported an 8.2% increase in consumer prices.
The region surrounding San Diego and Carlsbad was the area in California most affected by inflation. Moreover, California consumers now pay some of the highest gas costs in the nation.

The average price per gallon decreased to $6.20 in October, from a near-record high of $6.42 the previous week. At the time, the national average price of gasoline was $3.91.
In November 2022, the typical U.S. family paid $396 more per month to purchase the same goods and services as in November 2021.

Mark Zandi, the chief economist of Moody’s Analytics, stated that reducing inflation will be a “tough journey.” The top economist predicted that it would take around 18 months for inflation to decline.

In December, Zandi stated that inflation remains “painfully high,” but is “becoming less acute.”

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