California $600-$1100 Golden State Stimulus II Checks ARRIVING THIS WEEK!

Updated: Sep 27, 2021

What’s goin on guys, Josh Baldwin here from Mad Money Millennial. Please go and high five those like and subscribe buttons for being so awesome, and let’s get into this update on the California Golden State Stimulus 2, which is scheduled to be sent out this Friday, September 17th to eligible recipients. In the first batch of the stimulus program’s expansion, which were disbursed on August 27th, about 600,000 payments worth an estimated total of $354 million were deposited into the bank accounts of qualifying individuals.

According to Franchise Tax Board spokesperson Daniel Tahara, the number of payments in the next round will be much larger, with about 2 million slated to go out on September 17th. In general, the state anticipates issuing stimulus checks about every 14 days, though there may be times when the payments go out earlier or later than two weeks. The first rounds are going out through direct deposit to people who have their bank account information on file with the state tax agency. For those who typically get their state tax refund in the mail, checks are estimated to begin going out on October 5th.

The checks will take up to three weeks to arrive once sent. However, some payments may be delayed, the state warns, because they may need more review time depending on the situation or information available to them. This could include things like address changes, bank account changes, and so forth. A total of $12 billion in direct payments is scheduled to go out to qualifying residents, benefiting about two of every three Californians, according to the state. The money was included in California’s recently passed $100-billion budget and aims to assist residents who were hit hard financially during the COVID-19 pandemic. In fact, California’s stimulus plan draws on federal coronavirus recovery funds to partially cover the cost. California’s second stimulus program expands upon Golden State Stimulus I payments, which went out earlier this year.

Under Golden State Stimulus 2, qualifying individuals who made $75,000 or less last year may be eligible to receive up to $600, with an additional $500 going to those with at least one dependent. Some Social Security recipients may also be eligible for the Golden State Stimulus 2 payment, provided Social Security is not their sole source of income, and they have an adjusted gross income of $75,000 or less. And it’s important to note that Social Security income is NOT included in the adjusted gross income. Additionally, Californians who received the earlier Golden State Stimulus 1 payment could get another check if they recently claimed dependents on their return. California is using 2020 tax returns to determine who will receive the Golden State Stimulus and for how much.

Taxpayers eligible for the payment are therefore urged to submit their 2020 return before October 15th, 2021, which is the deadline to file a late tax return and still be able to receive a stimulus check. Residents who aren’t sure whether or not they qualify are encouraged to use the state’s online estimator tool, which will help provide an answer.

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