New York will begin distributing physical inflation refund checks to millions of residents as part of the state budget. 2025.
This is the first payment of its kind in the state's history, with amounts varying based on taxpayers' income and marital status.
Who will receive the check?
Those who filed their 2023 tax return using Form IT-201, resided in New York for the entire year, and are not listed as dependents on another person's tax return will be eligible for the benefit.
The Department of Taxation and Finance clarified that income must fall within established limits to qualify.
More than eight million residents will benefit from this one-time payment.
How much will be paid?
The check amount depends on your adjusted gross income and reported marital status.
- Single or married filing separately: $200 if you earned up to $75,000, or $150 if your income was $75,001 to $150,000.
- Married filing jointly or qualifying surviving spouses: $400 if they earned up to $150,000, or $300 if their income was between $150,001 and $300,000.
- Heads of household: $200 up to $75,000 of income, or $150 if they earned between $75,001 and $150,000.
When will payments be sent?
Checks began being sent out at the end of September and will continue to be distributed over the coming weeks.
The shipment will not be ordered by postal code, so some taxpayers may receive it before others.
The institution explained that the process will be staggered to ensure that all payments arrive correctly.
Checks will be sent to the address listed on your most recent tax return.
What to do to receive it?
No application is necessary. The check will be issued automatically and mailed to you.
Those who have changed their address must update their address through an online Individual Services account with the Department of Taxation and Finance.
Unlike other refunds, payment will not be made by direct deposit, but only by physical check.
This method aims to avoid errors in deposits and simplify payment verification.
The Department also noted that it never directly contacts taxpayers to inform them about the check or request personal information.
Any message or call with this purpose should be considered suspicious.