A fresh $1,400 stimulus check may be on the way, according to a senior citizens' group that has been lobbying for it for those who have been left out. The next installment in the series, as well as payments from numerous other state stimulus programs, will be released on Friday.
The Senior Citizens League is the lobbying group in question, and it has been urging the federal government to provide stimulus packages specifically for Social Security recipients.
Stimulus payments for senior citizens
One of the main reasons for this is that rising costs have taken a significant bite out of household budgets, even with the record-high cost of living boost to Social Security, as per Digital Market News.
A letter from the league's members to Congress expressed their belief that a stimulus check for Social Security recipients would help to reduce the higher costs most of them would face if the COLA bumps for next year put them in a much higher tax bracket, resulting in higher tax rates on their income as well as surcharges to their Medicare Part B premiums.
The letter's main point is to demand $1,400 stimulus checks for Social Security recipients. The letter would arrive the same week as the Social Security Administration announced that in 2022, benefit recipients will get a 5.9% annual cost-of-living increase.
This is the most significant rise since 1982. This would also provide Social Security recipients with an estimated $92 more each month. As a result, the monthly anticipated salary for the next year would rise to $1,657.
Read Also: These States Are Set To Receive New Stimulus Checks Worth $300 To $2,000 Before The Year 2021 Ends
Who will receive stimulus checks coming tomorrow?
Meanwhile, starting tomorrow, October 15, more than 1.2 million California citizens will get state stimulus checks totaling $890 million. On October 15, the California Franchise Tax Board will release the fourth batch, which will include 421,000 direct deposit payments totaling about $323 million, according to The Sun.
These will generally arrive in bank accounts within a few days. According to the Tax Board, the batch of payments also includes around 819,000 paper checks totaling $567 million.
By the end of the month, most of the direct deposit payments will have been made, just in time for Halloween. The payments, valued between $600 and $1,100, are issued to people earning less than $75,000 each year under the Golden State Stimulus II.
Meanwhile, individuals who qualified for the state's initial stimulus program may be eligible for a $500 incentive. California Governor Gavin Newsom estimates that the Golden State Stimulus II will benefit around two-thirds of the state's population. The state has granted $2.33 billion in pandemic-related funding with the latest round earlier this month.
Golden States' filing of tax returns deadline
According to the state, roughly nine million tax returns are eligible for the stimulus, and it hopes to find many more by the October 15 deadline.
The stimulus payments themselves are contingent on the recipient earning no more than $75,000 in adjusted gross income in the previous year. That fact, of course, would be spelled out in the tax file.
You may visit a webpage dedicated to answering questions about the California program and learning all you need to know about eligibility by clicking here. It's also worth noting that the third tranche of California stimulus payments was just distributed last week. It also featured the first batch of mail-in paper checks, as per BGR via MSN.
One of the most important conditions for receiving one of these payments is that beneficiaries must reside in California for more than half of 2020. That includes a residence requirement in California on the day the stimulus check is distributed.
Related Article: Are You Qualified For Another $1,400 Stimulus Check To Be Sent in 2022? Social Security Recipients Might Also Get Theirs!
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