$6,000 Stimulus Check Approved for 2024, Eligibility to receive $500/Month for the next one year: A new financial assistance program has been launched by the Franchise Tax Board (FTB) of California to assist low-income people and families. In 2024, the initiative will provide $6,000 California Stimulus Checks to help with rising living expenses and unstable economic conditions.
Originally intended to provide vital assistance during the COVID-19 outbreak, these stimulus checks were stopped when things became better. But because of persistent financial difficulties brought on by rising living costs and inflation, a large number of people still need support. The state of California has announced the release of $6,000 stimulus cheques in response to this demand.
The payments will be made on a monthly basis over the course of eighteen months. A set of criteria will be used to determine how much is delivered. The payments are scheduled to start in June 2023 and run through November of this year.
Also see :Senior Citizens $2600 Stimulus Check 2024, How to claim and what is the eligibility?
Who is Eligible to receive this $500/Month stimulus check?
The purpose of the California stimulus checks is to assist those who fulfill specific qualifying requirements. The following conditions must be satisfied in order for someone to be eligible for this financial aid:
Residency
Applicants must be permanent residents of California.
The recipient’s eligibility is impacted by their annual income.
Individuals applying on their own must make no more than $75,000 annually. If they make more than $75,000 annually, they will not be eligible for the payment.
The combined yearly income of married couples filing jointly must be $150,000 or less. Should the pair’s annual income surpass $150,000, they will not qualify for the stimulus payments.
Needs for Filing Tax Returns
The person must have submitted their 2020 income taxes before October 21, 2021, in order to be qualified. This implies that they have until this date to finish and file their tax return.
SSN, or Social Security Number
The person’s Social Security Number (SSN) is required. This number is used to confirm their identify and make sure they satisfy the requirements in order to be paid.
How will The Stimulus Payment Be Given?
There won’t be a single, lump sum distribution of the stimulus cheques. Rather, those who qualify will get a $350 monthly stipend. The monthly payment for married couples filing jointly is $700. Up to two dependent children will receive an additional $350 each month.
The monthly allowance for families with a single child might range from $700 to $1,050. These payments are meant to help low-income families better manage their budgets by helping to pay for necessities like groceries, medical care, and education.
$6000 Stimulus Check Timeline
In June 2023, the FTB started disbursing the stimulus funds. These installments will be made every month through November of 2024. It is anticipated by recipients that payments will be made on a monthly basis.
They are recommended to wait three more business days before contacting the FTB for help in the event of delays. According to governmental projections, around 8.3 million low-income households will benefit from this initiative.
Although people of California are expected to receive financial relief from the stimulus checks, the funds that were supposed to arrive this month have not yet arrived. Officials have said that the checks will be released in the upcoming days, but no precise date has been given.