The $12000 Stimulus Check 2024 is available for those individuals who reside in California, filed tax returns by the deadline of 15 April 2024, and they must have $63,398 income for the tax year 2023. The $12000 Stimulus Check 2024 will be out soon, expected to be at the end of September or the upcoming months of 2024 for vulnerable families.
$12000 Stimulus Check 2024
A $12,000 stimulus check in 2024 for California state residents has been a topic of discussion these days which is a financial support initiative for low-income individuals. As inflation and cost of living increase day by day, this one-time support is designed to assist individuals and families who are suffering with living costs. The distribution of $12000 Stimulus Check 2024 will be managed by the California Franchise Tax Board (FTB).
Individuals and families have to meet certain eligibility criteria in order to get this payment and $12000 Stimulus Check 2024 will only be provided to those who have filed tax by 15 April 2024. It has been said that $12000 Stimulus Check 2024 will be based on household size and the exact payment date is not announced by FTB yet. This payment is specially designed for the residents of California and no other state member is eligible to get it.
The distribution of $12000 Stimulus Check 2024 is expected to be started by the end of September as per the announcement of the U.S. government. This payment can be late due to several reasons and the payment will be made in upcoming months. The critical information related to the $12000 Stimulus Check 2024, eligibility criteria, purpose, and payout date is discussed in this article for interested individuals and households.
Purpose Behind $12000 Stimulus Check 2024
There are several purposes and benefits of the $12000 September Stimulus Check 2024 and these are discussed below for you to understand it.
Economic Relief for Low-Income Families
The basic purpose of $12000 Stimulus Check 2024 financial support is to cope with the essential expenses such as housing, food, healthcare, education, etc. As the cost of living is rising, it’s the best source to manage these struggling circumstances.
Supporting Economic Stability
$12000 Stimulus Check 2024 will also play a crucial rule in supporting overall economic stability. By providing this assistance, the government can see a boost in consumer spending and this will take part in economic growth.
Alleviating Poverty
Poverty is the issue of all countries during this inflation era and by distribution of $12000 Stimulus Check 2024, this issue will be reduced. This stimulus check will provide great financial security to low-income households and alleviate the financial pressure from their standard of living. The government will provide this assistance to vulnerable families and to those who need it most.
When will qualifying individuals receive a $12000 Stimulus Check in 2024?
The $12000 Stimulus Check 2024 is highly anticipated financial support by eligible individuals and those who have filed 2024 taxes. The exact payment date is not announced or confirmed by FTB but it’s expected that the Stimulus Check will be issued at the end of September 2024 or in the coming months. The exact date can only be checked from the official website when it’s released by officials.
After the start distribution of the $12000 Stimulus Check 2024 Franchise Tax Board (FTB) will notify eligible individuals about their qualifying payout amount and receiving date. Individuals will receive a stimulus check amount through direct deposit who have put their bank account details with tax returns and those who have filed with a paper method will receive it through a paper check. If any individuals have information that needs to be updated then they must inform FTB before the check distribution.
$12000 Stimulus Check 2024 Payment
As you all know, the maximum payout amount is $12000 but it can be different based on individual family size. Families will receive a minimum of $6,000 and a maximum of $12,000 under this stimulus check program. These payment amounts based on different circumstances are discussed below:
Families without Children
Single individuals or couples without dependent children can receive up to $6,000 and while it’s a lower financial assistance, it’s still very beneficial to receive and help to cover basic needs.
Families with One Child
These families are eligible for up to $8,000 and it’s designed to help smaller families to manage their daily expenses and to cope with rising inflation.
Families with Two Children
Households who have two children will get up to $10,000 and this significant financial burden of raising children aims to provide effective support.
Families with Three or More Children
Families who have more than 3 children are eligible to receive a maximum payout of $12000 and this higher amount will be provided to eligible large families who often face higher living costs.
$12000 Stimulus Check 2024 Qualifying Requirements
The $12,000 Stimulus Check for 2024 in California will be provided to low-income individuals but it requires some eligibility criteria to follow which is given below.
- Individuals must have an income of $63,398 for the year 2023 to be eligible for a $12000 Stimulus Check 2024.
- Those who qualify for Federal Tax Credit are eligible to get this.
- Individuals who are California residents and earning $30,931 or less qualify for the CalEITC, which provides additional support up to $3,529 for households with three children.
- Individuals must have filed their state and federal tax returns with the Internal Revenue Service (IRS) and the tax return must be filed by 15 April 2024.
