Hey, guys, it's Ginny Silver.
And today I want to talk to visit in the state of California
who are confused about the Golden State Stimulus, the Golden
State Grant, and the Golden State Stimulus.
Two.
These are confusing programs, and they are being further
clouded not only by the language in the bill text, it's self,
but by the media.
So I'm going to dig through and answer a lot of your questions
with the information that I have based on the primary sources
that are available.
I want to be very clear with you.
I'm not a tax professional, I'm not an attorney, and I don't
work for the Franchise Tax board, so I don't have all of
the answers here, you guys.
But I do want to give you the information that I do have
in the most clear and concise manner that I'm able to do
so because you guys have many, many questions about this
program and are seeking more clarity on it.
First off, there are three different elements to the Golden
State Stimulus, the Golden State Stimulus, the Golden State
Grant, and the Golden State Stimulus.
Two.
These are the names for the various programs that are established
in the bill text.
The Golden State Stimulus is a 600 dollars direct stimulus
payment from the California government.
The Golden State Stimulus was passed on March 15th.
Now, according to the March 15th requirements, in order
to receive a Golden State stimulus payment, there are two
ways that you could qualify.
Number one was to qualify for and claim a California Earned
Income Tax credit.
A Cal EITC is a credit that you must claim on your income
taxes for tax year 2,020.
Claiming a Cal EITC was your ticket to receiving this 600
dollar payment.
Now, in order to qualify to receive a Cal EITC, you must
have taxable earned income up to 30,000 dollars.
While unemployment benefits are taxed as income, they are
not defined as earned income in the eyes of the IRS and the
Franchise Tax Board.
So you must have had at least some form of income in which
you earn.
You must not have used the married RDP filing separately.
If married or RDP, you must have lived in California for
more than half of the 2020 tax year.
You must be a California resident on the date that the payment
is issued, and you must not be eligible to be claimed as
a dependent.
If you qualify for and claimed a Cal EITC on your 2020 income
taxes, then you would be eligible to receive a 600 dollars
Golden State Stimulus payment.
This is a one time flat payment in the amount of 600 dollars,
regardless of if you are filing single if you are filing
head of household.
If you are filing married, filing jointly, each type of tax
return receives 1,600 dollars.
Golden State Stimulus second way in which you can qualify
for a California Golden State Stimulus based on the March
15th eligibility requirements is if you are an ITIN filer.
If you are an ITIN filer for your income taxes, meaning you
do not have a Social Security number and instead file your
income tax as with an ITIN number, then you would have not
been eligible to receive a federal level 600 dollars stimulus
because that 600 dollars federal level stimulus was not available
to ITIN filers.
The Golden State Stimulus awards a 600 dollar stimulus payment
to ITIN filers with an EGI under 75,000 dollars.
Additionally, if those ITIN filers also meet the same standard,
qualify for the Golden State stimulus by filing a Cal EITC
credit on their taxes, they would also receive an additional
600 dollars payment.
Itin filers are receiving 2 600 dollar payments, potentially
because the first 600 dollar payment is replacing the federal
level stimulus that they did not qualify for and issuing
that 600 dollars California additional benefit that they
do qualify for.
So if you qualified for a Golden State stimulus based on
the March 15th eligibility requirements, when are you expected
to receive these?
The Franchise Tax Board States, If you filed your return
between January 1st and March 1st, you will receive
your stimulus payment beginning after April 15 2021.
For direct deposits, allow up to two weeks and for paper
checks, allow four to 6 weeks for mailing.
If you filed your tax return between March 2nd and April
23rd 2021, you will receive your stimulus payment beginning
after May 1st.
Direct deposits allow up to two weeks and paper checks allow
four to 6 weeks for mailing.
If you filed your tax return after April 23 Rd 2021, for
direct deposits, allow up to 45 days after your return has
processed. And for paper checks T allow up to 60 days after
your return has processed.
Now, many individuals are reporting that they are not receiving
these on the time table that is stated here.
Unfortunately, there's no way to track these online.
The Franchise Tax Board does have a tracking tool.
However, it States here that you may not use it to track
your Golden State stimulus.
It is only intended for tax refund.
I have also had several subscribers tell me in the comments
that they were able to call into the Franchise Ise Tax Board
and get help from a customer service representative.
In terms of checking the status of their Golden State stimulus,
I can't guarantee you that calling into the Franchise Tax
Board means that they will be able to check on the status.
But because several of my viewers have reported this as successful,
it is something to try.
If you're wondering what the status of your payment is now
for those of you that had your Agis affected by the 10,200
dollars worth of unemployment benefits that were to be untaxed
on the federal level ZL and removed from your AGI for tax
or 2,020.
I shared a video previously which walks you through the form
that you must fill out and submit to the Franchise Tax Board
in order to claim a Cal EITC.
If you did not previously qualify for a Cal EITC, but due
to the tax forgiveness you now do.
I'm going to link that video in the description down below.
Now, the next piece of the Golden State Stimulus Puzzle is
the Golden State Grant.
Golden State Grant is the 600 dollars Golden State Stimulus
payment that is awarded to those individuals on SSI, SSP,
CAPI, and Cal Works.
If you are on any of those listed programs, then you automatically
qualify with no other action needed for a one time 600 dollars
Golden State Grant payment.
Golden State Grant program was a part of the original Golden
State Stimulus Bill, which was passed in March 15th March
15th.
Golden State Stimulus Bill text is broken down into two separate
sections. One section is called the Golden State Stimulus
as I mentioned previously, and this section is called the
Golden State Grant.
It's listed as a grant because these individuals are not
required to file a tax return in order to receive this payment.
SSI, SSP, CAPI, and CalWorks recipients are automatically
qualified to receive a 600 dollars one time and payment if
you were Cow Works and this is deposited to your EBT card.
Now this page States that SSI and SSP recipients should expect
to receive their payments on the following schedule.
However, the majority of feedback that I am receiving is
that when you locate your Zip code on this chart, the date
given here is not the date in which you received the payment.
The payments seem to be received about two to 3 weeks after
the listed date.
Next, the third piece of the the puzzle is the Golden State
Stimulus To.
This name is deceiving.
I did not create this name.
I am not choosing to tell you Golden State Stimulus to to
be misleading, but I want to use the proper name that is
listed in the bill text, so I want to be very clear about
this one.
The Golden State Stimulus to is not an additional 600 dollars
payment for anyone.
There is no second 600 dollars stimulus payment.
Golden State Stimulus I was passed on June 30th and is being
signed into law today on July 1st.
The Golden State Stimulus To Bill text expands the eligibility
for the Golden State Stimulus so that more people are now
qualified in order to receive their 600 dollars one time
payment. Now, the new bill text, expanding the eligibility
here States that in order to receive a 600 dollars Golden
State Stimulus payment under the new Golden State Stimulus
two requirements means that number one, you can't have already
received a 600 dollar payment.
Number two, you must have filed a 2020 income tax return.
Number three, you must have lived in the state of California
for at least half of tax year 2020, and you must be currently
living in the state of California at the time in which the
payment is paid out.
Next, they state that you cannot be claimed as a dependent
by another tax filer.
Next, they state that you must have a California adjusted
gross income of one dollar or more and it cannot exceed 75,000
dollars. This is for anyone filing single filing head of
household, filing married filing jointly.
If you're married filing separately, then you must not exceed
an AGI of 37,500 dollars.
Next is the change which is not being highlighted by the
media, but I think is really important.
So I'm going to reach out to the Franchise Tax Board and
see if they can further clarify this information.
For me.
They'll text States that you must have had wages subject
to withholding of 75,000 dollars or less, or 37,500 dollars
or less in the case of married individuals filing separately.
Now, this States that you must have had wages subject to
withholding in the amount of 75,000 dollars or less, or if
you're married filing separately, 37,500 dollars or less
because it States that you must have had wages subject to
withholding. Many of you are asking me if you qualify, if
you only received unemployment, unemployment income is not
earned income, and unemployment income is not wages.
This build tech States that you must have had wages subject
to withholding below 75,000 dollars.
Now, the piece of information that I need to receive clarification
on here from the Franchise Tax Board is can you have had
zero dollars in wages subject to withholding because zero
dollars in wages subject to withholding is less than 75,000
dollars. Now, because I'm not an attorney, because I'm not
a CPA and I don't work for the Franchise Tax board.
I can't tell you guys with 100% certainty if you can or cannot
qualify based on unemployment alone.
Present States that you must have had wages here.
I want to clarify this with the Franchise Tax board, so I'm
going to be reaching out to the California Assembly members.
I'm going to reach out to the Franchise Tax board, and I'm
going to try to get more clarity here because no one in the
media is sharing that one piece of the bill text.
The next piece of the Golden State stimulus to legislation
is that a 500 dollars additional payment will be awarded
to anyone that qualifies for will qualify for a Golden State
stimulus or Golden State grant that has dependence on their
tax return.
If you have one or more dependent, no matter the ages, then
you qualify for a flat 500 dollars additional payment.
This is not 500 dollars per dependent, but it is a flat one
time 500 dollars additional payment.
If you already qualify for a Golden State stimulus based
on the March 15 th requirements and you have already received
that, then Yes, you are still eligible to receive this additional
500 dollars with the Golden State stimulus to how much can
you expect to receive based on each individual scenario.
You'll receive 500 dollars.
If you qualified for the original Golden State stimulus,
which was defined back in March and you claimed dependence
on your 2,020 tax return, you will receive 600 dollars if
you did not qualify for the Golden State Stimulus one requirements
that were stated back in March.
And now you qualify based on the new set of requirements.
You will receive 100 dollars if you did not qualify for a
Golden State Stimulus one based on the requirements issued
in March.
But now you do qualify for a Golden State stimulus and you
claim dependence on your tax return.
The 1,000 if the recipient met the requirements for the Golden
State Stimulus one and filed their tax return using their
federal ITIN number and claimed dependents.
Now many of you are stating in the comments that there's
talk about this Golden State stimulus to when you have not
received your payment from the Golden State Stimulus one.
Well, those are still in the process of being paid out, so
those will continue to roll out.
But this new legislation expands eligibility as well as issuing
that 500 dollars additional payment for those dependents
because this legislation just passed on June 28 and is being
signed into law on July one St following the signature, we
will next be waiting for the Franchise Tax Board to release
detailed information and information regarding when the payments
will be made.
Okay, you guys, I hope that was helpful in trying to clear
up as much information as I possibly could using the primary
government sources that we have, and I'm going to try my
best to get more clarification on the wages concern from
the bill text, please click Like Subscribe and leave me a
comment down below.
Payments on the following schedule my computer.
This does not work for checking your Golden State stimulus
status. Gold State Stimulus Status State Senator Golden State
Stimulus status from your State Senator.