New York Inflation Refund Checks Are Coming: What to Know

"If you're a New York resident, check your mailbox: Hundreds of dollars could be waiting inside. The New York State Office of Taxation and Finance has announced it will issue inflation refund checks as early as this fall. The event is not because of any special program, like how STAR payments are issued. Instead, New York is providing one-time relief checks to help offset higher sales taxes due to increased inflation."

"The inflation refund checks are for eligible New Yorkers who have lived and paid taxes in the Big Apple State. These one-time payments are part of a state budget provision designed to provide residents with some relief from increased inflationary costs. In total, 8.2 million payouts will be mailed over the coming weeks, according to Hochul's office. Here's who qualifies for a NY inflation refund check"

New York will send one-time inflation refund checks to eligible residents as early as this fall to offset higher sales taxes from inflation. The payments are funded through a state budget provision and total 8.2 million mailed payouts. Eligibility is based on 2023 New York state income tax filings: recipients must have been full-time residents, filed a state return, and not been claimed as dependents. 2023 adjusted gross income limits are $150,000 or less for single, heads of household, and married filing separately; $300,000 or less for joint filers and qualifying surviving spouses. New or higher-income residents may not qualify.

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