Your Bank Account Will Receive $1,100 in Stimulus Payments and $2,000 in Cash Requests| More Info!

Starting this month, direct aid will be provided to over 25 million people. Some states are using their own stimulus funds or surpluses to help specific residents, such as low-income households or teachers.

From late July to early August, the Census Bureau collected data showing that about one in four American households had difficulty paying household bills the preceding week.

“Golden State Stimulus” grants in California can be worth up to $1,100

In an effort to help the state’s low and middle class households, on August 27 the state of California will begin sending out checks of up to $1,100 to nearly 25 million residents. This is the state’s second stimulus payment.

This is significant since the second installment of aid is proportional to the amount that families got in the first. Those who got the initial payment but do not have a qualifying dependent will no longer get benefits from the state. The first cheque recipient with a dependant will receive an additional $500.

Those who did not get the initial payment and who have a qualifying dependent will receive the maximum amount of $1,100. Individuals without dependents who did not receive an earlier cheque will receive $600. (Use the Franchise Tax Board’s handy eligibility and estimated refund amount calculator to learn more.)

It is estimated that 25 million of California’s 39 million residents (or nearly two-thirds of the state’s population) will be eligible for the payments in 2020 since they will have an adjusted gross income of less than $75,000. The State of California Franchise Tax Board states that in order to get the reimbursement, residents must file their 2020 state tax return by October 15th.

It’s the “largest state tax rebate in American history,” according to California Governor Gavin Newsom, who announced the $12 billion stimulus package.

Source: CBS News