California’s Franchise Tax Board (FTB) has launched a new financial assistance program for low-income people and families. In 2024, the program will provide $6,000 in California Stimulus Checks to assist offset rising living expenses and economic volatility.
These stimulus checks were first provided during the COVID-19 epidemic to offer necessary assistance, but they were terminated when the situation improved. Despite persistent financial difficulties, many individuals continue to seek aid owing to increasing inflation and living costs. In response to this demand, the state of California has announced the distribution of $6,000 in stimulus cheques.
The payments will be made monthly for 18 months. The amount granted will be chosen using certain criteria. Payments started in June 2023 and will continue until November of current year.
Who is Eligible to receive this $500/Month stimulus check?
The California stimulus payments are intended to support citizens who fulfill specific qualifying requirements. To be eligible for this financial help, applicants must satisfy the following requirements:
Residency
Applicants must be permanent residents of California.
Income Limits
The recipient’s annual income influences their eligibility.
Individuals applying on their own must have an annual income of $75,000 or less. They will not be eligible for the payout if they earn more than $75,000 per year.
Married couples paying taxes jointly should have a total yearly income of $150,000 or less. If the pair earns more than $150,000 per year, they will not be eligible for stimulus funds.
Tax Filing Requirements
To be eligible, the person must have submitted their 2020 income taxes by October 21, 2021. This implies that they should have finished and filed their tax return before the deadline.
Social Security Number (SSN)
The person must have a Social Security number. This number is used to verify their identify and confirm they satisfy the eligibility requirements for the payment.
How will The Stimulus Payment Be Given?
The stimulus checks will not be delivered in one single amount. Instead, qualified people will get a monthly payout of $350. Married couples filing jointly will earn $700 each month. An additional $350 per month will be provided to up to two dependent children.
Families with one kid might get $700 to $1,050 per month. These payments are meant to cover vital expenditures like food, healthcare, and education, allowing low-income families to better manage their budgets.
$6000 Stimulus Check Timeline
The FTB started issuing stimulus funds in June 2023. The monthly payments will continue until November 2024. Payments will be delivered on a constant monthly basis to recipients.
In the event of a delay, they should wait an additional three working days before requesting help from the FTB. The state anticipates that this initiative will help around 8.3 million low-income families.
The California stimulus cheques are expected to give financial assistance to people, but payments for this month are still waiting. Although no particular date has been set, authorities have said that the checks would be sent in the following days.
Also See: $500 Monthly Federal Stimulus Checks 2024, These States Are Disbursing the Payments
