Millions In New York To Receive ‘Inflation’ Checks, Who Will Get
Many Empire State residents are going to get a check in the mail to help "combat inflation."
Gov. Hochul and other New York leaders announced $475 million in tax relief is coming to nearly 2 million New Yorkers.
2 Million New Yorkers Will Receive $475 Million in Tax Relief
Hochul says the money is all part of New York's effort to "combat inflation and improve affordability."
"With this relief package, we're making good on our commitment to helping hardworking New Yorkers through the nationwide affordability crisis," Hochul said. "This program will put money back in the pockets of nearly two million New York families struggling to make ends meet in the face of the pandemic, inflation, and other rising costs. My administration remains laser-focused on improving affordability statewide, and I thank the Legislature for its partnership in ensuring that New York families get this much-needed financial assistance."
"Inflation Checks" Being Mailed Out This Month To Nearly 2 Million New Yorkers
The checks will be mailed in envelopes that look like this:
Over 1.8 million low-income New Yorkers and families will receive tax relief. On average each eligible recipient will receive a $270 "inflation" check. Officials say eligible New Yorkers can expect to receive their checks by the end of October 2022.
If you are eligible, you don't have to do anything. Checks will be mailed automatically, officials say.
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"This will put money back into the pockets of hard-working families who have been struggling with the already high cost of child care, along with rising costs at the grocery and at the gas pump," Assembly Speaker Carl Heastie said. "Our families have felt the effects of a global pandemic and now inflation, and we will continue working to provide the relief they need."
The money is part of the 2023 Enacted Budget. New York lawmakers recently approved an additional New York State Child and Earned Income Tax Payment to help many residents.
"The program builds on Governor Hochul's commitment to putting more money back in the pockets of everyday New Yorkers. Earlier this year, the Governor accelerated the distribution of $2.2 billion in tax relief to more than 2 million New Yorkers through the new homeowner tax rebate credit. Governor Hochul also announced a statewide gas and diesel tax holiday to provide New Yorkers relief at the pump as fuel prices hit record highs," Hochul's office states in a press release.
What To Do If You Recently Moved To New York?
Hochul's office recommended the following for eligible New Yorkers who recently moved:
New Yorkers who have recently moved should update their address with the Department of Taxation and Finance to prevent delays in receiving their Additional NYS Child and Earned Income Tax Payment checks. To do so, they can create an account on the Department's website and follow on-screen instructions to complete required fields and save their updated address.
Who Is Eligible in New York?
New Yorkers are eligible for the "inflation" tax relief checks if during the 2021 tax year, you received at least $100 for either or both of the following credits from New York State:
- An Empire State child credit
- A New York State earned income credit (or noncustodial parent earned income credit)
CLICK HERE for more information to see if you are eligible.