The Franchise Tax Board notes the payments will not be taxed by California but they “may be considered federal income.”
, have sent a combined 16,600,982 payments to recipients, either by direct deposit or debit card. While an early estimate from the state indicated the refund would reach 18 million recipients, the FTB now says the actual number is likely lower.“It’s difficult to say how many more payments will ultimately be issued upon validation, but it’s clear that the ultimate total will be less than the 18 million originally estimated,” FTB media liaison Andrew LePage told us via email on Wednesday, Jan. 25.
Millions of qualifying taxpayers are getting envelopes like this one sent home with a debit card loaded with California’s Middle Class Tax Refund. Recipients should read the attached instructions carefully to avoid transaction fees. Q: A Money Network representative told us Friday, Jan. 20 that the company has been given until the end of January to distribute more than 1 million MCTR debit cards. Is this true?It is incorrect that we still have 1 million debit cards to issue or mail.
Toward the middle of next month, we hope to have a better idea – at least in a rough sense – of the ultimate total.
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