The highly anticipated first round of inflation relief checks will be sent out on Friday to a select group of Californians. According to KTLA nearly 23 million residents will receive the Middle Class Tax Refund as a result of record inflation prices this year. The first group of people that will see the money hit their bank accounts are "those who received the Golden State Stimulus Payment" via direct deposit in 2021. The first round of residents will begin to see the payments reflected in their accounts on October 7th.
KTLA detailed that the second round of payments will go to residents who received the same stimulus payment in 2021, but had it mailed to them in the form of a debit card rather than the payment being direct deposited into their account. The second round will be sent out on October 25th. KTLA also mentioned that there are more Californians that will be receiving the Middle Class Tax Refund than those who received the Golden State Stimulus Payment in 2021, despite the income limit for those filing jointly being raised to $500,000.
In order to receive the Middle Class Tax Refund, KTLA shared that you have to be a California resident, or were a California resident for six months in 2020. The amount that you receive will depend on the income reported on your 2020 tax return, and your filing status.