New York to Issue Inflation Refund Checks
ALBANY, NY — New York State is gearing up to assist residents as inflation continues to affect living costs, with plans to distribute millions of checks by the end of September.
The state’s Taxation Bureau indicates that most people will qualify for a one-time payment ranging between $200 and $400. The specific refund amount will depend on your income and filing status.
Checks are set to be sent out over several weeks, which means your timeline for receiving one might differ from that of your neighbors. This isn’t determined by your region or postal code. For those curious about the process, News10NBC offers guidance to help you confirm your refund.
Do I need to apply for an inflation refund check?
If you’ve filed taxes, you’re in good shape. The state suggests that if you submit your 2023 taxes, all you’ll need to do is keep an eye on your mailbox for your check. More details can be found in our frequently asked questions.
The refund will be mailed to the address listed on your most recent tax return. Even if your regular tax refund comes through direct deposit, this inflation refund will arrive as a paper check.
How can seniors on Social Security get an inflation rebate check?
A number of viewers have written to News10NBC with this exact question. The amount you receive will hinge on what is reported as your income on your 2023 tax return. However, there are many older individuals receiving Social Security or Disability benefits who may not file taxes due to inadequate income.
The state clarified that these individuals won’t get a check without filing a tax return for 2023 as a New York resident. That said, they can still submit their documents. Officials from the governor’s office noted that there’s nothing preventing those who haven’t filed a 2023 return from doing so to qualify for a check.
You will need the form known as “IT-201,” which is the standard form used each tax season. You can find the 2023 version here.
How much money will you receive?
The Tax Department informs that the amount of the refund will vary based on your 2023 income and filing status. Here’s a breakdown:
| Submission Status | 2023 New York Adjusted Gross Revenue (form IT-2012 Line 33) | Refund Amount |
|---|---|---|
| Single | Under $75,000 | $200 |
| Over $75,000, but under $150,000 | $150 | |
| Married Filing Jointly | Under $150,000 | $400 |
| Over $150,000, but under $300,000 | $300 | |
| Married Filing Separately | Under $75,000 | $200 |
| Over $75,000, but under $150,000 | $150 | |
| Head of Household | Under $75,000 | $200 |
| Over $75,000, but under $150,000 | $150 | |
| Qualified Surviving Spouse | Under $150,000 | $400 |
| Over $150,000, but under $300,000 | $300 |
