Are You Eligible for $6,000 Stimulus Check Coming in 2024 with $500 Monthly Payments?

The Franchise Tax Board (FTB) of California has launched a sizable financial assistance program to help low-income citizens in the face of growing living expenses and unstable economic conditions.

Through this program, qualified individuals and families can receive up to $6,000 in stimulus payments spread out over 18 months in monthly installments. For those who are most impacted, the effort aims to reduce financial burdens and advance economic stability.

Eligibility

Applicants must fulfill certain requirements in order to be eligible for the $6,000 stimulus payments:

• Residency: Candidates must be California permanent residents.
• Income Requirements: Married couples filing jointly must earn no more than $150,000 annually, while individual applicants must earn no more than $75,000.
• Tax Filing Requirements: By October 21, 2021, applicants must have submitted their 2020 income tax returns.
• Social Security Number (SSN): To be eligible, an SSN must be current.

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Distribution of Payments

The $6,000 stimulus is disbursed over 18 months, starting in June 2023 and ending in November 2024, as monthly installments. Married couples filing jointly receive $700 per month, while eligible individuals receive $350.

For up to two children, families with dependents may also get an additional $350 per month, which could raise the monthly payment for families with two dependents to $1,400.

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Procedure for Applications

The FTB encourages eligible residents to apply through its established methods.

To speed up the application process, applicants should make sure they fulfill all eligibility conditions and supply accurate information. The FTB’s official website has application forms and comprehensive instructions.

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