By Alon Bidden
Published on:
The California Franchise Tax Board (FTB) has introduced a new financial relief program to support low-income individuals and families.
This initiative will provide $6,000 in stimulus checks over 18 months, helping to offset increasing living costs and economic instability.
Here’s all you need to know about eligibility, payment schedules, and how to receive this financial aid.
Contents
Originally distributed during the COVID-19 pandemic, these stimulus checks provided essential aid. With ongoing financial challenges due to high inflation and living expenses, the state of California has reintroduced this support, offering monthly payments of $500 to eligible residents. The payments began in June 2023 and will continue until November 2024.
To qualify for the $500/month stimulus check, individuals must meet the following criteria:
Applicants must be permanent residents of California.
Individuals must have filed their income taxes for 2020 by October 21, 2021.
Applicants must possess a valid SSN for identity verification and eligibility purposes.
The stimulus checks will not be given as a lump sum. Instead, eligible individuals will receive:
| Recipients | Monthly Payment |
|---|---|
| Individuals | $350 |
| Married Couples (Jointly) | $700 |
| Families with One Dependent Child | $1,050 |
| Families with Two Dependent Children | $1,400 |
These payments aim to cover essential expenses such as groceries, healthcare, and education, thereby helping low-income families balance their budgets more effectively.
The FTB began distributing the stimulus payments in June 2023. The payments will continue consistently each month until November 2024.
| Month | Payment Date |
|---|---|
| August 2024 | Pending |
| September 2024 | Pending |
| October 2024 | Pending |
| November 2024 | Pending |
In case of delays, recipients are advised to wait an additional three business days before seeking assistance from the FTB.
The $6,000 stimulus check program is set to benefit approximately 8.3 million low-income households in California. These payments provide essential financial relief, helping residents manage their living expenses more effectively.
While the payments for this month are still pending, officials have stated that the checks will be released in the coming days. It is important for recipients to monitor their bank accounts and official FTB announcements for updates.
The $6,000 stimulus check initiative by California’s Franchise Tax Board is a significant measure to support low-income families facing economic challenges.
By understanding the eligibility criteria, payment schedules, and distribution methods, residents can effectively plan and utilize these funds to improve their financial stability.
Permanent residents of California with an annual income of $75,000 or less for individuals, or $150,000 or less for married couples filing jointly, who have filed their 2020 tax returns by October 21, 2021, and have a valid SSN.
Eligible individuals will receive $350 per month, while married couples filing jointly will receive $700 per month. Families can receive an additional $350 per month for up to two dependent children.
The payments began in June 2023 and will continue until November 2024, distributed monthly.
If your payment is delayed, wait an additional three business days before contacting the FTB for assistance.
Monitor your bank account and check official announcements from the FTB for the latest updates.
Disclaimer- We are committed to fair and transparent journalism. Our Journalists verify all details before publishing any news. For any issues with our content, please contact us via email.
An up-and-coming tax attorney passionate about educating readers on tax planning and mitigation strategies. Amit's articles offer practical advice and actionable tips to help individuals and businesses navigate the intricacies of tax law with confidence
