[ad_1]
LordHenriVoton / Getty Images
There is still some confusion over whether Social Security recipients will receive Golden State Stimulus II payments. It all depends on state guidelines, and only certain Social Security recipients will receive the California stimulus check.
Social Security 2022: How COLA will increase benefits for the average elderly couple
Tax brackets 101: here are the basics you need to understand
The California News Times reported that nearly 4.5 million checks have been distributed to Californians, about half of the expected payments under this program. The original program targeted low-income California residents, but was extended in July to cover those earning $ 75,000 or less per year, according to the California Franchise Tax Board.
Californians who receive Social Security checks are eligible for Golden State Stimulus II payments up to $ 1,100 ($ 600 for themselves and $ 500 for an eligible dependent) if they meet the conditions and declare d Other sources of income with an Adjusted Gross Income (AGI) of between $ 1 and up to $ 75,000 on their 2020 tax return. The state also noted that when calculating your AGI, Social Security does not. is not included.
Related: FYI Social Security: Will Stimulus Payments and the Child Tax Credit Affect Your Benefits?
Other requirements for Social Security recipients who reported income between $ 1 and $ 75,000 on their 2020 tax return include:
- Lived in California for most of the past year
- Still live in california
- Have a social security number or an individual tax identification number (ITIN)
- Cannot be claimed as a dependent by another taxpayer
- 2020 tax filing before October 15
So who doesn’t qualify?
If Social Security is your only source of income, you are not eligible for GSII payments under California eligibility criteria. Other types of income are also excluded from your AGI, such as CalWorks and CalFresh benefits, Supplementary Security Income / State Supplementary Payment, Immigrant Cash Assistance Program, Insurance state disability, VA disability benefits and unemployment.
Social security calendar: when will the first COLA checks arrive in January 2022
Find: Social Security Administration’s New Online Statements Could Help You Retire Earlier
If you qualify, you will receive your payments by paper check by mail or by direct deposit. Use the California online tool to see if you qualify and what you might receive.
More from GOBankingTaux
[ad_2]
