October 11 – The 2020 state income tax filing deadline to avoid late filing penalties and to 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 and issued 14.7 million refunds that year totaling more than $ 15.4 billion, according to a statement from the Franchise Tax Board.
In terms of tax credits and incentive payments, taxpayers 18 or older who are working and low-income can take advantage of the California Income Tax Credit (CalEITC) and get up to $ 3,027 back, according to the news release. At the end of the year, if those who qualify for CalEITC have at least one child under the age of 6, they may be eligible for $ 1,000 in Young Child Tax Credit.
Taxpayers with California Adjusted Gross Income of $ 1 to 75,000 for the 2020 tax year and who file their state tax return by October 15 are eligible for Golden State Stimulus II, according to the news release (ITIN) who have applied for their ITIN but have not received it by October 15 have until February 15, 2022 to submit their declaration and are still eligible for GSS I and GSS II. To be eligible, taxpayers can must be a California resident at the time of payment and have been California resident more than halfway through 2020. Further information can be found at https://www.ftb.ca.gov/about-ftb/newsroom/golden-state-stimulus/help.html.
For those with yet to file a filing, taxpayers can use the CalFile program to electronically file for free. CalFile and a list of other free or paid e-file services are available at www.ftb.ca.gov/file/ways-to-file/online/index.html.