It’s that time again: A big new wave of stimulus payments is set to go out on Friday, which will put some extra cash into the pockets and bank accounts of recipients. What’s coming are more than 1 million checks under California’s Golden State Stimulus II program, which has sent out tranches of new checks in staggered waves for a few months now.
That means these new checks are confined to residents of California, making them distinct from the next wave of child tax credit payments poised to go out to millions of Americans in just a few weeks’ time. According to the California Franchise Tax Board, 1.15 million of the Golden State payments are going out to Californians. In aggregate, they total $857 million. Below, we’ll walk through the details of the program behind this new wave of payments.
More Golden State Stimulus checks coming Friday
Most of the checks in this new wave will go out in paper form, sent through the mail.
On Monday, 750,000 checks in this wave will go out in the mail. The checks going out Friday, meanwhile, include 400,000 payments that will be direct-deposited into recipient bank accounts. About the mailed checks, do keep in mind at least one thing. It can take several days for the mail to make it to you — likewise, the direct deposit might not show up right away.
The state so far has sent out approximately 4.5 million Golden State Stimulus II payments. And those have a collective value of $3.2 billion. 3.3 million of those payments have gone out as direct deposits. The rest, 1.2 million, went out as paper checks in the mail.
More important, that 4.5 million figure is about half of the 9 million total Californians who’ll qualify for these new checks.
“Taxpayers who have California adjusted gross income of $1 to $75,000 for the 2020 tax year — and who (filed) their state tax return by October 15, 2021 — are eligible for the Golden State Stimulus II,” the franchise board’s website explains.
The state’s federal pandemic funds, as well as a $75.7 billion state budget surplus, are what’s been funding these checks. The state has allocated $480 million to the Golden State Stimulus II effort. And the California Franchise Tax Board is the agency that’s sending it all out. Some families with eligible dependents will get up to $1,100. But the main stimulus check payment going out here is for $600.
More than 1 million Californians who qualify for a Golden State Stimulus check but haven’t received one yet could see a payment as soon as this week. Details: https://t.co/M5suYQ6Jgx
— KTLA (@KTLA) October 27, 2021
On a related note, don’t forget: In a little over two weeks? Californians will join the rest of the country in getting the fifth of six child tax credit payments.
Those new stimulus checks from the federal government will go out on November 15. After that, there’s just one more child tax credit payment coming (on December 15).
More stimulus check news
Don’t miss these stimulus check updates from our recent coverage:
- Surprise stimulus checks are coming in 14 states – see if you get one
- Stimulus check update: Some people might get $500 payments for the next 3 years
- An extra stimulus check payment is coming from an unexpected place
- Your monthly stimulus checks might disappear thanks to this Democratic Senator
- Fourth stimulus check update: Only this group of people would get new $1,400 checks