Please click here to see our current exchange rate to Mexico. This extension applies to 2022 individual income tax returns due April 18, as well as 2022 business returns typically due March 15 and April 18.Īs we’ve noted in previous stories, please keep us posted on your MCTR progress.Pay $3.95 - $4.95 when you pay for your transfer with your debit card or bank account. 22.Ī reminder: Because of storms across the state, California taxpayers got an automatic extension from the IRS to file their federal returns by May 15, instead of mid-April. The FTB will release the latest MCTR distribution numbers Feb. The self-service rate for the FAQ line was not so successful, logging a 74% rate for the week and program to date. The activation line also shows a 94% “self-service rate,” a calculation of callers who were able to get some form of resolution to their questions without agent assistance, the FTB told us. We’ll note that the activation line is also the number taxpayers call to ask “where’s my money?” The breakdown shows 95,000 calls went to its FAQ line and 1.2 million calls to the activation and lost/stolen number. Tax-efficient investing: 7 ways to minimize taxes and keep more of your profits The vendor’s phone system logged 1.3 million calls in just seven days for the week ending Feb. If you’ve waited on hold for an agent or stumbled around hitting numbers in the Money Network phone tree, you seriously were not alone. “Yay? Should I now stop howling like a dog waiting for a scrap? Perhaps.” California Middle Class Tax Refund weekly statistics week ending in, provided by Money Network, the vendor handling distribution of the debit cards. “She assured us we would receive a new card within 2 weeks,” he told us via email. The money never landed, thanks to “mislabeling.” George Burchfiel and his wife Sue tag-teamed early morning phone calls to the Franchise Tax Board and Money Network.īoth spent time on hold before a rep at the FTB told George Burchfiel their payment had been issued in October via direct deposit. But when has common sense ever been the mantra in Sacramento?”įor some, tracing the MCTR became a bit of a household game of whack-a-phone-tree. “Suspending the gas tax/cap and trade would have been a much better solution. “The vagueness and inability to contact anyone in regards to the monies due us seems standard practice by the state of California,” Michael wrote. Why a qualifying taxpayer had to do so much legwork to track down a promised inflation refund infuriated the Pahls. “Tanya,” he said, was able to track down their payment, which had been summarily tossed by the state after its algorithm assumed that because the Pahls do some business in Kansas that meant they had moved. After repeated calls to the FTB’s hotline and the Money Network, Michael finally opted to make an appointment at his field office in San Diego. Michael and Heidi Pahls are among those who haven’t received their payment. Meanwhile, MCTR misery persists for those who are still waiting. The IRS last week said it would not tax California’s inflation refund payments nor those of 17 other states with similar programs in 2022. The agency said that after a review, it determined it “would not challenge the taxability of payments related to general welfare and disaster relief.”Ĭalifornia’s FTB previously stated it would not tax the MCTR. Money Network reports $1.43 billion have been “used” or withdrawn from the debit cards. The state, which publishes a running tally of the distribution at ftb.ca.gov, says 79% of cards issued worth a combined $4.13 billion have been activated and 28% of them now have a zero balance. Most of the payments, specifically 9.4 million, went out as debit cards. MCTR FAQs: Can I get paper check instead of debit card? Payments range from $200 to $1,050, depending on the recipient’s annual adjusted gross income, which must be less than $500,000. (Courtesy of Money Network) Refund recapĬalifornia’s inflation refund is nearing the end of its distribution with $9 billion approved for delivery to 16.6 million California taxpayers either by direct deposit or debit card. Santa Ana: 71 Eligible California taxpayers will get one Middle Class Tax Refund debit card between October and January 2023. One reader who landed an appointment Thursday exclaimed via text: “A real person, even before I could get my earbuds in!”
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