Receiving an unexpected sum of money in your account can be an incredible feeling. It presents opportunities to indulge in something special or make a significant dent in your debts. If you reside in California, you might have the chance to participate in a new program that offers a stimulus check, potentially amounting to $1,000.
Even in the aftermath of the COVID-19 crisis, various government institutions in the United States have continued distributing these stimulus checks to assist individuals experiencing financial hardships. One such initiative is taking place in California, specifically within Los Angeles County. Through the Guaranteed Income Program, eligible residents can receive monthly payments of $1,000 for a duration of two years.
Eligibility Criteria for California Stimulus Check: Who Qualifies?
When it comes to eligibility for California Stimulus, the requirements are relatively straightforward, especially compared to many other forms of assistance. Here are the criteria you need to fulfill. By meeting these requirements, you can determine your eligibility for the California Stimulus program and potentially access the benefits it offers.
- Residency: You must be a resident of Los Angeles County.
- Age: You should be at least 21 years old but under 24 as of September 1, 2023.
- Foster Care Background: You must have been in foster care until the age of 18.
- Income Level: Your income should be equal to or below 100 percent of the area median income for a one-person household, or 120 percent for a household with two or more individuals.
- Pandemic Impact: You should have been affected by the coronavirus pandemic.
The Breathe program and other Stimulus Checks in California: Claim over $10,000
Out of all the applications received for the California stimulus, only 200 individuals will be chosen. This selection process will occur from June 20 to July 3. Therefore, if you wish to secure the California stimulus, it is crucial to submit your application promptly and keep your fingers crossed for a favorable outcome.
The application period is already closed, so people who were able to apply are now waiting to receive good news in their email inbox. However, with the Free Tax Prep Los Angeles program you could be entitled to claim up to $10,000 in cash back refunds.
For low-to-moderate income individuals and families who have diligently worked, there is an opportunity to significantly increase their earnings through the Federal and State of California Earned Income Tax Credits (EITC). The EITC is a valuable refundable credit that can make a substantial difference in financial stability, potentially putting up to $10,352 back into the pockets of eligible taxpayers.
The Federal EITC is specifically designed to support individuals and families with low-to-moderate income levels. Depending on various factors, this credit can reach a maximum value of $6,935. Additionally, the state of California offers its own version of the EITC, known as CalEITC, which can provide an extra boost of up to $3,417. By leveraging both credits, eligible individuals and families stand to gain a significant amount of money, fostering financial empowerment and opening up new possibilities.
Many Californians are not claiming their money
A lot of California residents who could benefit from the EITC have not taken advantage of this valuable opportunity. According to estimates, approximately 330,750 eligible individuals in Los Angeles County alone did not apply for the EITC, resulting in a staggering $580 million left unclaimed. And that’s not the only program you could use: take a look at this comprehensive list here.