California Individual Middle Class Tax Refund

In June 2022, California lawmakers approved the Middle Class Tax Refund (MCTR) as a way to provide some relief to the rising cost of living.  You are eligible for this refund if you:

• Filed your 2020 tax return by October 15, 2021 [i]

• Meet the California adjusted gross income (CA AGI) limits described in the What you may receive section

• Were not eligible to be claimed as a dependent in the 2020 tax year

• Were a California resident for six months or more of the 2020 tax year

• Are a California resident on the date the payment is issued

One-time payments are being issued via direct deposit from October 7^th through November 14^th for those who electronically filed and elected direct deposit on your 2020 tax return.  Taxpayers who either did not electronically file or did not select to have refunds directly deposited into their bank account, will receive their MCTR in the form of a debit card between October 25^th and January 15th.

Payments will be between $400 and $1,050 depending on income limits (up to $500,000), filing status, and if you claimed dependents in 2020.  For more specific eligibility requirements and payment amounts, please visit https://www.ftb.ca.gov/about-ftb/newsroom/middle-class-tax-refund/index.html.

If you did not receive your refund or have additional questions, please call the FTB at 800-542-9332.

Sincerely,

Atherton & Associates, LLP