The saga of California’s inflation refund is coming to a close even as qualified taxpayers wait for their payments.
Gov. Gavin Newsom’s office said last fall that the state would distribute the one-time Middle-Class Tax Refund payments between late October and mid-January. The payments, which range from $200 to $1,050, are aimed at taxpayers who earn less than $500,000.
The good news: The Franchise Tax Board and its $25 million contractor, Money Network, 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