California (2021, August 30) - California decided to utilize some of their funding from the federal government for stimulus checks. Over nine million people should receive these direct deposits to their bank accounts.

The individuals who will receive the stimulus checks are current residents of the state. They also lived in California for the majority of the year 2020. Finally, they should not be dependent and need either a Social Security number or a taxpayer identification number issued by the government.

The California Franchise Tax Board expects that most individuals will have their stimulus checks by October 15 of this year at the latest. If you do not have direct deposit information, it will take 60 days at the longest to receive your money. The goal is that this money will help in economic recovery in the state.

The Golden State stimulus check, according to the California Franchise Tax Board, is a tax credit. This definition means that it is not taxable income, meaning you will not have to pay any of it back. If you do not receive what you hoped for, you can request your stimulus check on next year's tax return.

You can work with a tax and accounting service Rancho Cucamonga-based that will ensure you receive your money if you do not by tax preparation season. The professionals will know the form required to fill out if you never got the stimulus check.

The California Franchise Tax Board is a small piece in the California Government Operations Agency. Three primary members make up the staff and include the Director of Finance, Chair of the Board of Equalization, and state controller. The tasks associated with the board include monitoring income tax and other benefits from the government.