California Middle-Class Tax Refund 2024: Find out how much you can get

The Middle-Class Tax Refund (MCTR) is a one-time California payment, aimed at providing economic relief to eligible taxpayers, but will be refunded in 2024.

(Credit: WBUR)

California Middle-Class Tax Refund: What precisely is it, how much will you get and are you qualified? The Middle-Class Tax Refund (MCTR) is a one-time payment created by California legislators through CA Assembly Bill 192 in 2022 to offer eligible California taxpayers economic relief and will continue 2024.

Offering Californians between $200 and $1000 to help mitigate the impact, the MCTR sought to combat inflation and high gas prices resulting from the fallout of the Covid-19 epidemic and the War in Ukraine. Not everyone managed to claim it meaning that from June 1, 2024, it is going into a general fund.

About $20 million in unclaimed funds have reportedly been set aside for about 40,000 individuals who can still get their chance to claim that money back by updating their details through MyFTB or by visiting the Contact Us section of the Franchise Tax Board, where they can be directed to a link for the MCTR.

The FTB made sure to clarify that they might not be able to guarantee any further requests at this point, hence the procedure can take up to 30 days and one could miss the deadline. Applying sooner rather than later is therefore ideal.

The payment could be worth a lot of cash. One might be eligible to claim over $1000 if their Adjusted Gross Income (AGI) in 2020 was less than $150,000. Then the amount falls steadily until those making more than $500,001 are disqualified from eligibility.

How can I find out whether I will get a California Middle-Class Tax Refund?

You have to have turned in your 2020 tax return by October 15, 2021 to be qualified. Should you be Head of Household, qualifying widow(er), or Married/Registered Domestic Partner (RDP) filing jointly, your AGI on your 2020 CA tax return must also be $500,000 or less. Should you be filing separately as Single or registered Domestic Partner (RDP), your AGI must be $250,000 or below.

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Moreover, you have to have been a resident of California for at least six months during the 2020 tax year, not have been qualified to be claimed as a dependant in 2020, and be a California resident on the date the payment is issued.

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