SACRAMENTO, Calif. — Still missing your inflation relief money from the state? You’re not alone.
The State of California still needs to send out billions of refunds in the form of debit cards to eligible Californians. The Franchise Tax Board said it’s already completed sending money to everyone who was supposed to get it in the form of a direct deposit.
The state is supposed to finish sending out the rest in the form of debit cards by January 14.
The Board said they’ve issued about 7 million direct deposits and 3.5 million debit cards so far. That’s about $5.7 billion, but the state is supposed to hand out about $9.5 billion worth of relief.
Who qualifies for relief?
- You must have filed your 2020 tax return by October 15th 2021.
- Make less than $500,000
- Lived in California for at least half of 2020, and are still a resident today.
Direct deposits should have already gone out to everyone who filed their taxes electronically. If you filed using a paper form- or have since changed your bank account, you will receive the physical debit card.
How much money will you get?
The inflation relief payments vary in size from $200 to $1,050, depending on a person’s income, filing status and dependents.
The franchise tax board has an estimator online to see exactly how much money you qualify for.
About 7 million payments sent out so far, but how many people in the state does that impact? People filed jointly with their spouses, and some have dependents. So the franchise tax board said so far, more than 19 million people have benefited.
WATCH RELATED: Many San Diegans still waiting for California stimulus check (Nov. 2022).
HERE ARE MORE WAYS TO GET CBS 8:
ADD THE CBS8+ APP TO YOUR STREAMING DEVICE Roku | Amazon Fire