California Sending Millions of Residents Money To Help With Rising Gas Price

ByLA STARTUPS

If you’re a California resident, you may be eligible for a gas rebate from the state! Starting Oct. 7, millions of residents will receive payments directly from the state to help with rising costs and high gas prices. The payments, which range from $200 to $1,050 depending on income and other factors, will be distributed over the next few months. So far, about 18 million payments have been scheduled to go out. To be eligible, you need to have filed a 2020 California tax return by Oct. 15, 2021.

To be eligible, you must have filed a 2020 California tax return by Oct. 15, 2021. If you did not file by the October deadline because you were waiting on an Individual Taxpayer Identification Number (so long as you filed by Feb. 15, 2022).

How will you get the payment?

If you e-filed your 2020 CA tax return and received your CA tax refund by direct deposit, you will automatically receive your MCTR payment via direct deposit.

How much money will you get?

Payments will differ based on income, whether filers claimed a dependent and other factors. For example, couples filing jointly could get anywhere from $400 to $1,050 back, while others may receive $200 to $700. Additionally, ITIN filers and those who file tax returns with an SSN are eligible for refunds.

When will you get the payment?

MCTR payments for Californians who received Golden State Stimulus (GSS) I or II via direct deposit are expected to be issued to bank accounts from Oct. 7 through Nov. 14, with the majority of deposits occurring in October. Visit taxrefund.ca.gov for detail.

What do you need to do to get the payment?

You need to have filed a 2020 California tax return by Oct. 15, 2021, in order to be eligible for the rebate. If you did not file by the October deadline because you were waiting on an Individual Taxpayer Identification Number (so long as you filed by Feb. 15, 2022), you may still be eligible for the rebate.

Where can I find more information?

If you have any questions or need more information, you can visit the Franchise Tax Board website or call 1-800-842-9332.

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