Keep an eye on your bank account, New Yorkers.
The state’s first-ever inflation refund checks are officially rolling out as of September 26th.
“Starting today, we’re sending inflation refund checks to over eight million New Yorkers because it’s simple — this is your money and we’re putting it back in your pockets,” New York Governor Kathy Hochul said in a statement. “I’ll never stop fighting to help your family address the rising cost of living — and that’s why I also delivered on my promise to cut taxes for the middle class, expand the child tax credit and ensure free school meals for every student.”
So, how much are New Yorkers entitled to and when can we expect one — if at all? We’ll tell you what you need to know.
What NYers should know about the inflation refund checks
New Yorkers who qualify are entitled to up to $400, and there is no need to apply — you’ll receive your payment automatically.
Per the Governor’s office, you are eligible for an inflation refund check if, for tax year 2023, you:
- Filed Form IT-201, New York State Resident Income Tax Return
- Reported income within the qualifying thresholds below
- Were not claimed as a dependent on another taxpayer’s return
The qualifying thresholds, per the Governor’s office are:
- Joint tax filers with income up to $150,000 will receive a $400 check
- Joint tax filers with income over $150,000 but no greater than $300,000 will receive a $300 check
- Single tax filers with income up to $75,000 will receive a $200 check
- Single tax filers with incomes over $75,000 but no greater than $150,000 will receive a $150 check
- There are no age restrictions
If you’re curious where you stand, visit the Department of Taxation and Finance’s website for additional information.
Although the checks have begun circulating as of today, they will continue to do so throughout October and November. Do note that mailings are not based on zip codes.