$6,000 stimulus check approved for 2024. Find out if you qualify for $500 monthly payments

The California Franchise Tax Board (FTB) has introduced a new financial relief program to assist low-income individuals and families. The program offers California stimulus checks worth $6,000 in 2024 to help offset the rising cost of living and economic instability.

These stimulus checks were originally distributed during the COVID-19 pandemic to provide vital relief. However, payments stopped when the situation improved. However, with ongoing financial challenges, many people still need help due to high inflation and the high cost of living. In response to this need, the state of California has announced the availability of $6,000 stimulus checks.

Payments are made monthly and spread over a period of 18 months. The amount granted is determined based on defined criteria. Payments began in June 2023 and will continue until November this year.

Who is eligible to receive this $500/month stimulus check?

California’s stimulus checks are intended to help residents who meet certain eligibility criteria. To be eligible for this financial assistance, individuals must meet the following requirements:

residence

Applicants must be permanent residents of California.

Income limits

The recipient’s annual income affects their eligibility.

For individuals applying, their annual income must be $75,000 or less. They are not eligible for the payment if they earn more than $75,000 per year.

For married couples who file taxes jointly, their combined annual income should be $150,000 or less. If the couple earns more than $150,000 per year, they will not be eligible for the stimulus checks.

Tax return requirements

To be eligible, the individual must have filed their 2020 income tax return by October 21, 2021. This means that she should have completed and submitted her tax return by this date.

Social Security Number (SSN)

The individual must have a Social Security Number (SSN). This number is used to verify their identity and ensure they meet the payment eligibility criteria.

How is the stimulus payment made?

The stimulus checks will not be distributed as a lump sum. Instead, eligible people will receive a monthly payment of $350. Married couples filing jointly will receive $700 per month. Up to two dependent children receive an additional $350 per month.

Families with one child could receive between $700 and $1,050 per month. These payments are intended to cover essential expenses such as food, health care and education, helping low-income families better balance their budgets.

Schedule for the $6,000 stimulus check

The FTB began distributing stimulus payments in June 2023. These monthly payments will continue until November 2024. Recipients can expect their payments to arrive evenly each month.

In case of delays, they are advised to wait another three business days before seeking assistance from the FTB. The state estimates this program will benefit approximately 8.3 million low-income households.

California’s stimulus checks are intended to provide financial relief to residents, but payments scheduled for this month are still pending. Although no exact date has been announced, officials have said the checks will be released in the coming days.