Check your bank account this week: millions of state stimulus checks and child tax credit payments will be issued to Californians as part of two separate programs.
First up is the third round of monthly child tax credits, which will be issued by the IRS and the U.S. Treasury Department on Wednesday.
More than 4 million Californians received the August advance payments, which provide of up to $300 per month for qualifying children under the age of 6, and $250 for each qualifying child 6 to 17 years old, according to the Treasury Department.
The money benefited about 7 million children in the nation’s most-populous state and 61 million kids total across the U.S., Treasury figures showed.
Last month, a “technical issue” forced the IRS to mail out paper checks to some households that had signed up to receive the credit through direct deposit, delaying payments for less than 15% of recipients, the Treasury Department said. However, the glitch is expected to be fixed before the Sept. 15 payments.
The department noted that most families receive the child tax credit via direct deposit.
Then, on Friday, some eligible Californians will get an additional stimulus payment of up to $1,100 — this one coming from the state’s new Golden State Stimulus II program.
In this second batch of GSS II payments, California expects to deposit some 2 million checks into the bank accounts of eligible residents, according to a spokesperson for the state’s Franchise Tax Board.
The first round was distributed to 600,000 eligible residents on Aug. 27; the total value of the payment was worth an estimated $354 million.
Under GSS II, Californians who earned $75,000 or less last year may qualify for a payment of $600, plus an additional $500 for eligible dependents claimed on the person’s 2020 tax return.
Like the last batch, this one is going out to recipients who have their bank account on file with the state and receive their California tax refund by direct deposit. Payments to taxpayers who typically receive their state tax refund by mail are expected to begin early next month, according to the Franchise Tax Board.
Overall, the program is expected to benefit an estimated two-thirds of the state.
California residents can check to see whether they meet the eligibility standards and how much they could receive by using the online estimator tool.