MILLIONS of Americans are set to receive a one-off payment of up to $400 with no strings attached.
The payments are part of a $2billion package designed to help taxpayers with the effects of inflation.
Americans will receive a one-time inflation-busting payment (stock)[/caption]
Starting in October, New York State will send inflation refund checks to some eight million people to help with the rising cost of living.
The one-time payments will be sent over several weeks and will be adjusted on the basis of gross incomes and tax filings.
Taxpayers will have to meet specific criteria to ensure they receive a payment.
They must’ve filed their taxes, can’t be claimed as a dependent, and make below $150,000.
Taxpayers earning between $75,000 and $150,000 are in line to receive a $150 check, as revealed by the New York Governor’s Office.
Meanwhile single taxpayers who earn up to $75,000 are set to pocket $200.
But, joint filers earning up to $150,000 are expected to receive a cash boost of $400.
And those who earn between $150,000 and $300,000 are in line to pocket $300 under the plan.
Around 8.2 million people will receive the checks.
And, they do not need to take any action.
This is because officials will use tax files on record to send the checks.
The relief package was proposed by New York governor, Kathy Hochul.
But, the payments proved controversial and were met with opposition.
Lawmakers believed the payments didn’t tackle the core issues of the cost of living.
New York is not the only state sending out rebates.
In Georgia, taxpayers could be in line to receive a one-time check worth up to $500.
But, Americans were required to file their tax forms by May 1.
