$12,000 'Stimulus Check' Available For Eligible Recipients

By Dave Basner

January 29, 2024

Photo: Getty Images

It's been a few years since the last of the stimulus checks went out, and while there are no plans for a fourth direct payment, that doesn't mean people struggling financially can't get assistance from the government. In fact, some Americans are eligible for what is essentially a whopping $12,000 "stimulus check" in the form of state and federal rebates.

To get the $12,042, you'll have to qualify for the Federal Income Tax Credit (EITC), the Young Child Tax Credit (YCTC) and the California Earned Income Tax Credit (CalEITC).

For the Federal Income Tax Credit, you'll need to have earned less than $63,398 in 2023 and if that's the case, you can get up to $7,430 if you have three or more children, $6,604 if you have two kids, $3,995 if you have one child and $600 if you don't have any kids.

As for the CalEITC, that is only available to California residents who earned $30,931 or less last year. They can see a payment of up to $3,529 with three kids and smaller payments for fewer or no children. If you qualify for the CalEITC, you might also be able to add on more with the state's Young Child Tax Credit, which will refund up to $1,083 for taxpayers with a child under the age of six.

To get any refund, you'll have to file your 2023 taxes. Federal taxes start to be accepted on January 29 and are due on April 15, while California is already collecting tax returns and will through October 15, thanks to the state's extension. To avoid penalties and get the full refund, eligible recipients must file on time.

Once received, refunds submitted electronically will be processed within 21 days, while refunds from paper returns will go out within three months.

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