New York City Residents to Receive Inflation Refund Checks
Around 3.53 million residents in New York City will be getting inflation refund checks of up to $400. Have you received yours yet? If not, read on.
This initiative is a part of a statewide effort by Governor Kathy Hochul aimed at assisting mainly middle-class New Yorkers cope with rising costs, which she attributes to the pandemic.
Here’s what you should know about the upcoming checks.
When Will Your Check Arrive?
The checks are starting to show up in mailboxes and will continue to be sent out over the next few weeks. They began mailing this month and will keep arriving through November. According to the New York State Department of Taxation and Finance, don’t fret if your neighbor gets theirs before you; mail isn’t dispatched based on location.
There won’t be an option for online payments, meaning no direct deposit. Instead, the physical check will be mailed to the address on your 2024 state tax return. If you need a copy, you can find it here. If you’ve relocated since filing your return, you can update your address via the New York State Department of Taxation and Finance website.
The state is sending out 200,000 checks daily to 8.2 million eligible households across New York.
Who is Eligible?
For many, eligibility is likely if you haven’t reported a very high income in recent years. It’s primarily based on the income detailed in your 2023 New York State income tax return, so have that documentation available.
Those excluded include joint filers with an income over $300,000 and single filers exceeding $150,000.
The amount you receive is contingent upon your earnings, according to your 2023 return. Here’s the breakdown:
- Joint filers with a household income up to $150,000 will receive $400.
- Joint filers with an income between $150,000 and $300,000 will get $300.
- Single filers earning up to $75,000 can expect $200.
- Single taxpayers with incomes over $75,000 but below $150,000 will receive $150.
Anyone who submits a 2023 state income tax return, lives in New York year-round, and isn’t claimed as a dependent is eligible. There are no age limits.
Do You Need to Sign Up or Register to Get the Money?
No! If you qualify, you won’t need to do anything to receive your inflation refund check. It will be sent automatically by the state.
Is the Check Taxed?
Sort of. These inflation refund checks aren’t taxed at the state level, but they are taxable at the federal level. Federal taxes won’t be withheld from your check, so you’ll need to report it on your 2025 federal income tax return.
What if You Haven’t Received Your Check?
First, double-check if you meet the eligibility criteria. Everyone who qualifies should get a check, but if you think yours went to an old address, reach out to the state Department of Taxation and Finance for help. More information can be found at www.tax.ny.gov.
However, the tax office won’t provide delivery schedules or check statuses.
You might also want to check the State Auditor’s Lost Money Fund, where unclaimed funds—including uncashed checks sent to the wrong address—might be held for several years.
Be Cautious of Refund Scammers
Governor Hochul has warned New Yorkers to watch out for scams related to these refund checks. Scammers are sending fake emails, texts, and calls that trick people into revealing their banking information.
Remember: the state won’t ask for your banking or personal details to receive your refund check. The IRS and New York State Department of Taxation and Finance already have your details from your tax returns. So, if you get any communication requesting such information to claim your check, it’s likely a scam.
If you think you’ve received a fraudulent message, follow these steps from the New York Department of Taxation:
- Block the sender.
- Delete the message.
- Report the fraud to your state or the IRS.
