Comments from state leaders indicate cashback payments will likely be pushed into the late summer and fall.
Lawmakers and Gov. Gavin Newsom have finalized a deal to send $9.5 billion back to Californians feeling the crush of $6 gasoline and rising costs for groceries and other products and services. The payments, which could be as much as $1,050 for a family, will not be coming in time for a 4th of July road trip – but they should land before the winter holidays.
At the heart of the delay is the Franchise Tax Board, which will be responsible for issuing the bulk of payments to bank accounts linked to tax accounts. In May Gov. Gavin Newsom said the tax board would not start that processupdated on Thursday says the payments are now expected to go out by the end of October and continue into January.
• The first tier, covering 14.2 million taxpayers, provides payments of $350 each, plus an additional $350 if they have at least one dependent, for single filers earning up to $75,000 and joint filers up to $150,000. A single filer with no kids will receive $350, a single parent or a childless couple will get $700, and a joint-filing couple with kids or at least one other dependent will get $1,050.
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