California is planning a special $12,000 stimulus check for low-income residents in 2024. This financial aid aims to help individuals and families cover essential expenses. Unlike previous nationwide stimulus payments, this one is specifically for Californians.
What You Need to Know
The Franchise Tax Board (FTB) will manage this $12,000 one-time payment. It’s designed to help low-income families who are struggling to make ends meet. Payments are expected to start in 2024.
Details:
- Managed by: Franchise Tax Board (FTB)
- Benefit: New Stimulus Payments
- Amount: $12,000
- Payment Date: June 2024
- Website: irs.gov
Who Can Get the $12,000?
To get the $12,000 stimulus check, you need to meet these requirements:
Income Limit: You must have earned less than $63,398 in 2023.
Federal Tax Credit: You should qualify for the Federal Tax Credit.
California Earned Income Tax Credit (CalEITC): If you earned $30,931 or less, you might qualify for additional support up to $3,529 if you have three children.
Child Benefits: The payment amount depends on how many children you have:
- Three or more children: $7,400
- Two children: $6,600
- One child: $4,000
- No children: $600
When Will You Get Paid? Payment Dates
The FTB plans to start sending out the $12,000 checks in 2024. However, official confirmation of these dates is still pending. Keep an eye on their website for the official dates and any updates.
How to Claim Your Check
Here’s how you can claim your $12,000 stimulus check:
- Check Eligibility: Make sure you meet the income and tax credit requirements.
- Gather Documents: You’ll need your Social Security number and income statements.
- File Your Taxes: Complete your state and federal tax returns accurately.
- Wait for Review: The government will review your tax returns to confirm if you qualify.
- Receive Payment: Once approved, you’ll get your payment via mail or direct deposit.
- Submit Claims: If you don’t receive your payment, you can submit a claim for the tax credits.
Is the $12,000 Stimulus Check Real? Fact-Checking Eligibility Claims
There’s been a lot of talk about a $12,000 stimulus check, but the IRS hasn’t confirmed it. Some reports suggest that a combination of tax credits could total $12,000 for eligible people. This includes the Federal Income Tax Credit (EITC), Young Child Tax Credit (YCTC), and California Earned Income Tax Credit (CalEITC).
The IRS has not issued a statement about a new $12,000 check. Previously, the IRS provided three rounds of smaller stimulus checks during the COVID-19 pandemic, but there’s no current confirmation of a new $12,000 check for everyone.