California Residents – Keep an Eye out for the Middle Class Tax Refund

The Middle Class Tax Refund is a one-time tax refund payment for California residents who filed a 2020 tax return with an AGI (adjusted gross income line 17 of CA Form 540) of less than $250,000 (Individual) or less than $500,000 (Married or Head of Household).

Payments range from $200 to $1,050 depending upon income, filing status, and number of dependents in a household.

Payments will be issued beginning in October of 2022 through January 2023. Most Californians who e-filed will receive their payment via direct deposit to the account listed on their tax return. For those that did not e-file or had a balance due to them, a debit card will be issued and sent in the mail.

If you believe you are owed a refund and have not received one, please reach out to customer support at 800-542-9332 weekdays from 8am to 5pm or you can use the chat feature available at mctrpayment.com

About the Author

Andrew Hoffarth, CFP® is a Lead Advisor and Partner with Financial Alternatives. Andrew specializes in financial planning, retirement planning, multigenerational planning, and helping clients evaluate complex financial decisions with confidence. Outside the office, he enjoys spending time with his family, golfing, and tackling home improvement projects. Learn more about our Wealth Management Services or contact our team to discuss your financial planning priorities and long-term goals.