Hey, guys, it's Ginny Silver.
The California Franchise Tax Board has new updated information
on the Golden State stimulus to pay out dates.
On the link in the video description down below, you will
be able to access the Franchise Tax Board information on
the Golden State stimulus.
They now have updated their site with payout dates.
They state that for direct deposit time frame, the most direct
deposit stimulus payments will be issued between September
1 and October 15 2021.
They see that if you file your tax return after August 20
2021, allow up to 45 days after your return has been processed.
Additionally, for those of you who do not have direct deposit
set up with the California Franchise Tax Board and who will
be awaiting a paper check for your Golden State stimulus,
the payments are going to be sent out according to your Zip
code. The last three digits of your Zip code used to file
your 2020 tax return can be used to locate the payout date
as shown on this chart.
So, for example, if you are in Zip code 9486, then you would
look up on this chart.
086. 086 would fall in the second line here because 086
falls between these numbers 066 through 221.
That corresponds with a payout date of 1018 through 115
. Now, the pay out dates for paper checks do unfortunately
run all the way through the end of December.
Next, I want to recap for you the eligibility requirements
in order to receive the Golden State stimulus.
Two.
Please keep in mind this is not a second $600 payment for
those of you that already received the first Golden State
stimulus. This is expanded eligibility for those who have
not yet received their $600 stimulus, as well as an additional
$500 payment for those who have claimed dependence.
There is an important change in language that I see here
today on the Franchise Tax Board website.
Now, first, they state file your 2020 taxes by October 15
2021, you must have had a California adjusted growth income
of one dollars to $75,000 for the 2020 tax here.
Then what's new here is that they state you must have wages
of $$0 to $75,000 for the 2020 tax here.
Previously, the California Franchise Tax Board had stated
they're working differently.
They previously had stated have wages under $75,000, which
led us to believe that you must have had some amount of wages
under $75,000.
Well, now it is rephrased to state have wages of $$0 to $75,000.
This is a significant change from their language previously.
Next, you must be a California resident from over half the
year of 2020.
You must be a California resident on the date that the payment
is issued.
So if you have moved or are going to move out of the state
of California by the time the payment is issued, then you
do not qualify and you cannot be claimed as a dependent by
another taxpayer.
Now, this change in the wages language stating $0 in wages
is now included.
I want to run the calculator to test that, to make sure that
it is input there as well, because it is a big change in
language, and I do want to reach out to the California Franchise
Tax Board to confirm clarity on that.
But I'm going to run this calculator so that you guys can
see. So if I click on the calculator, then next it's going
to ask me a series of questions.
Can I be cleaned as a dependent?
No.
Have I been a California resident?
Yes.
Select your filing status.
And for this I'm going to select married filing jointly.
Next, it's going to ask me for my California adjusted gross
income. It must be one dollars to $75 here.
Keep in mind, your AGI can include unemployment income unless
you have that $10,200 only which was removed, but anything
above that will be in your AGI.
Next, how much in wages?
$$0 to $75,000.
There it is.
Again, you're going to be asked if you have a Social Security
number or an ITIN number, and then you're going to be asked
if your spouse has a Social Security number.
Next, you're going to ask, did you receive the Golden State
Stimulus one?
And do you claim one or more dependent?
And I'm going to select for this purpose?
No.
So it does confirm $600 and inclusive in that was the $0
in wages.
So for those of you who are wondering how much you are to
receive, if you qualified for the first random Golden State
stimulus and you already received $600 and you have claimed
dependents, then you're going to receive a flat payment of
$500. It's not $500 per dependent, but rather a flat $500.
If you did not qualify for Golden State Stimulus one and
you do not claim any dependents, you will receive $600.
If you did not qualify for Golden State Stimulus on and you
have claimed one or more dependent, then you will receive
$1,100. And lastly, if you qualified for Golden State Stimulus
one and did not claim any dependence, then you do not qualify
for Golden State Stimulus too, because you have already received
your for those of you who filed taxes is an ITIN number,
meaning that you do not have a Social Security number.
If you qualified for Golden State Stimulus one and you claimed
a credit for one or more dependents, the amount would be
$1,000. And if you qualified for Golden State Stimulus one
and did not claim a credit for one or more dependent, then
you do not qualify for Golden State Stimulus to the reason
for the higher amount here in the top line is due to the
fact that they are replacing the federal level stimulus amount
that you did not qualify for on the federal level previously.
Okay, you guys, I hope that was helpful.
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