The deadline for filing 2020 state personal income tax returns to avoid late-filing penalties and be eligible for Golden State Stimulus payments is this Friday.
As of Oct. 4, Californians had filed nearly 18.8 million personal income tax returns with the state having issued 14.7 million refunds this year, totaling more than $15.4 billion, according to a release from the Franchise Tax Board.
As for tax credits and stimulus payments, taxpayers who are 18 or older, work, and have a low income can take advantage of the California Earned Income Tax Credit (CalEITC) and receive up to $3,027 cash back, according to the release. If by the end of the year those qualifying for CalEITC have at least one child under the age of 6, they may be eligible for $1,000 from the Young Child Tax Credit.
Taxpayers who have a California adjusted gross income of $1 to $75,000 for the 2020 tax year and who file their state tax return by Oct. 15, are eligible for the Golden State Stimulus II, according to the release. Taxpayers filing with an Individual Taxpayer Identification Number (ITIN) who have applied for but have not received their ITIN by Oct. 15, have until Feb. 15, 2022, to file their return and still be eligible for GSS I and GSS II. To be eligible, taxpayers cannot be claimed as a dependent by another taxpayer, must be a California resident on the date the payment is issued, and must have been a California resident for more than half of 2020. For more information, visit https://www.ftb.ca.gov/about-ftb/newsroom/golden-state-stimulus/help.html.
For those who still need to file, taxpayers can file electronically free of charge using the CalFile program. CalFile and a list of other free or fee-based e-file services are available at https://www.ftb.ca.gov/file/ways-to-file/online/index.html.