AMERICANS are concerned their inflation refund checks will go straight to their outstanding debt rather than their pockets.
The U.S. state behind the refund program has since crushed those rumors.
New York City will see the most recipients, with 3.53 million people (stock photo). Credit: Getty[/caption]
The refund checks come as part of the New York State Budget deal, offering over 8.2 million residents checks up to $400.
New York State clarified that despite the 2023 tax refund being taken for outstanding debt, that will not happen with inflation checks.
Instead, the money will be sent directly to residents, leaving it up to New Yorkers to decide where their money goes.
MORE MONEY
New York Governor Kathy Hochul announced in May that residents didn’t need to apply for the refund checks and instead, they would be sent straight to those eligible.
The checks come as part of Hochul’s commitment to “putting money back in the pockets of New Yorkers,” the press release said.
“Starting in October, over 8 million New Yorkers will get an inflation refund because it’s simple — this is your money and we’re putting it back in your pockets,” the governor said.
New York’s state revenue from sales tax collections has increased due to inflation.
That money, Hochul believes, belongs to New Yorkers.
AM I ELIGIBLE?
To be eligible for the funds, you must have filed the Form IT-201 New York State Resident Income Tax Return in the 2023 tax year.
Residents also must have reported an income within the qualifying thresholds.
Other eligibility requirements include not being claimed as a dependent on another taxpayer’s return.
For joint tax filers making up to $150,000 you can expect a $400 check in the mail.
Joint filers making between $150,000 and $300,000 will receive a $300 check.
Single tax filers can also expect a refund check.
Number of Recipients by Region
Approximately 8.2 million New Yorkers will receive checks.
- New York City: 3.53 million
- Long Island: 1.25 million
- Mid-Hudson: 924,000
- Western New York: 585,000
- Finger Lakes: 513,000
- Capital Region: 475,000
- Central New York: 321,000
- Southern Tier: 251,000
- Mohawk Valley: 198,000
- North Country: 156,000
If you are a single tax filer making up to $75,000, the state will issue a $200 check to you.
Single tax filers making over $75,000 but less than $150,000 can receive a $150 check.
The program has no age restrictions.
Checks are expected to be mailed out in October with deliveries continuing throughout November.
Some checks may be mailed out as early as the end of September. The state said specific delivery dates will not be provided.
The checks are not being mailed out based on region or zip code, so it’s possible you may receive your check before or after your neighbors do.
