Photo credit: Money NetworkSTATEWIDE – California has extended its timeframe for issuing payments for the Middle Class Tax Refund (MCTR), a one-time payment to provide rising cost relief to Californians. The state expects to continue sending payments until mid-February.
The Franchise Tax Board last updated their website January 10 with the latest stats on the refund.
More than 30 million Californians have received refunds up to $1,050 depending upon filing and dependent status
According to the site, the state will start sending payments to debit card recipients whose address has changed since filing their 2020 tax return January 30. The payments will continue until February 14.
Direct deposits will continue until January 14 for recipients who changed their banking information since filing their 2020 tax return.
The site says to allow up to two weeks from the issued date to receive the debit card by mail.
This will finish off the remaining $1.5 billion in payments.
Photo credit: CA Franchise Tax BoardRELATED: $8 billion in Middle Class Tax Refunds issued to Californians so far
Debit Card Refunds
The state has issued 7 million direct deposits and partnered with Money Network to provide 9 million debit cards to Californians.
The MCTR debit card is pre-loaded with the refund money. Once a recipient activates the card, it can be used to make direct payments or cash withdrawals. A MCTR debit card Frequently Asked Questions (FAQ) section can be found on the Franchise Tax Board website.
For more information about the Middle Class Tax Refund and debit card visit https://www.ftb.ca.gov/about-ftb/newsroom/middle-class-tax-refund/index.html?WT.ac=Global_banner_MCTR
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