Stimulus Check Update: Residents of This State Should Watch for Deposits This Week

Will you get money deposited into your bank account?

Despite a petition signed by millions, the federal government seems unlikely to provide a fourth coronavirus stimulus check. But residents of certain states are still going to receive more COVID-19 relief money in their bank accounts, despite lack of action on the part of D.C. lawmakers.

This includes people who:

• Were residents of California for more than half of 2020
• Who are California residents when the payments are issued
• Who had earnings under $75,000 during the course of last year
• Who are not claimed as dependents by other taxpayers

This additional government aid will come in the form of the Golden State Stimulus. For those eligible for it, the California Franchise Tax Board recently released a new batch of 1.15 million payments. This brings the total number of payments sent to more than 4.4 million.

Here's what you need to know about the California stimulus checks -- and whether you may be one of the million-plus who will receive these funds this week or in the coming weeks.

Stimulus checks are coming to California residents

California lawmakers authorized a total of $12 billion in Golden State Stimulus Payments to be issued in two different programs.

The original Golden State Stimulus payment was intended for low-income residents. But the relief effort was expanded in July and now most residents of the state with incomes under $75,000 will be receiving payments. In fact, around 2 out of every 3 state residents should have already received stimulus funds or will be getting them in the future.

The expanded payments available to higher earners, called the Golden State Stimulus II checks, are valued at up to $600 per eligible adult and $500 per eligible dependent, with a maximum payment of $1,100. At the end of October, the California Franchise Tax Board released 400,000 of these payments via direct deposit. And another 750,000 checks were scheduled to go out as early as Monday Nov. 1.

If you already received a payment under the original Golden State Stimulus, you will not be getting another one from this batch of payments. But, if that's not the case and you otherwise meet the qualifications, you should watch your bank account or check the mail carefully for the money to arrive in the coming days.

You can use the online Golden State Stimulus Estimator to determine the likely amount of your payment, and you should be aware that your direct deposit or check will not be sent until your tax return has been processed. If you didn't file your tax return until after Sept. 1, you won't get your payment until at least 45 days have passed since the processing of the return.

If you filed your 2020 return already and you meet the requirements, then the money from the Golden State Stimulus should come via whatever method you used to obtain your tax refund. You can check your past return to see if your payment will likely come via mail or direct deposit.

This may be the last government stimulus help you get, so be sure to watch carefully for it as the Franchise Board moves through the process of sending out the much-needed relief.