Eligibility Requirements for California’s $4,530 Stimulus Payment

According to Marca , Several states across the U.S. are spreading holiday cheer with IRS refunds that will arrive in the final days of 2024, providing a financial boost to families in need. These payments are part of government efforts to ease the strain of inflation and help low-income households cover essential expenses during the holiday season.

In October 2024, the IRS launched a new initiative aimed at supporting struggling households through the Guaranteed Basic Income (GBI) program. This program, designed as part of a broader, long-term plan to assist U.S. citizens recovering from the pandemic’s economic impact, also helps them cope with rising inflation and cost-of-living increases.

The IRS payments, which function as tax rebates, can reduce the amount owed in taxes or offer refunds if the credit exceeds the taxes due. In some cases, these payments are refundable, providing financial relief even for those with limited tax obligations.

Who is eligible for the IRS stimulus payments?

• California: The state’s tax rebate program benefits the middle class and those earning less than $75,000 annually. Eligible individuals can receive up to $4,530, with larger amounts for families with dependents. Payments are distributed via direct deposit or debit card.
• Alaska: Through its Permanent Fund Dividend (PFD) program, Alaska residents are eligible for a $650 payment. Direct deposit recipients have already received their funds, while paper check recipients began receiving theirs in early October.
• Idaho: Idahoans can expect a $300 payment for individuals and $600 for joint filers. Payments began in September and will be distributed through the end of December.
• Rhode Island: Rhode Island offers a one-time child tax rebate of $250 per child, up to a maximum of three children per household, for a total of $750. Payments were made throughout October.
• South Carolina: With a $1 billion allocation from the state budget, South Carolina is sending out $800 payments, most of which were distributed in October, with more scheduled in the coming months.
• Virginia: Virginia residents are receiving individual rebates of $250 or $500 for couples, which were issued through direct deposit or paper checks in October.

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These payments are part of ongoing efforts to provide direct financial relief to residents facing economic challenges, helping them enjoy a more comfortable holiday season despite rising costs.