Millions in CA inflation relief money going back to state fund if unclaimed by June 1

Last Updated on May 26, 2024 by The HD Post Staff

CALIFORNIA – Millions in Middle Class Tax Refund – inflation relief payments, will go back to the state, June 1, if left unclaimed.

The state issued 7.2 million inflation relief direct deposits to residents, beginning in October 2022. For residents who did not receive it, they will need to contact the Franchise Tax Board (FTB) to get their money before it goes back into the state’s general fund.

Middle Class Tax Refund

The Middle Class Tax Refund was a one-time payment to provide relief to Californians. Payments ranged from $200 – $1,050. Eligible residents automatically received payments between October 2022 and January 2023.

According to the state, the payments have benefited almost 32 million California taxpayers and their dependents.

Debit card funds are safe until 2026

The Franchise Tax Board (FTB) also issued 9.6 million debit cards for inflation relief payments.

According to their statistics, 90% of the recipients activated the card. For those who have not activated or used all the funds on the card, they have until April 30, 2026 to spend the money.

For information on how to get help with collecting a Middle Class Tax Refund visit https://www.ftb.ca.gov/about-ftb/newsroom/middle-class-tax-refund/help.html