With the ongoing pressure of inflation affecting the economy of millions of families, New York Governor Kathy Hochul has announced the distribution of inflation rebate checks to ease the financial burden on its residents.
The long-awaited move aims to return some of the money raised by the state through sales taxes that increased in response to inflation.
Who is eligible to receive the New York stimulus payment?
People are eligible if:
They filed Form IT-201, New York State Resident Income Tax Return.
They reported income within the qualifying thresholds.
You were not claimed as a dependent on another taxpayer’s tax return
How much could people who qualify for the New York stimulus payment receive?
Single filers earning $75,000 or less will receive a $200 check and those earning $150,000 or less will receive $150.
Taxpayers filing jointly earning $150,000 or less will receive $400, and those earning $300,000 or less will receive $300.
Is there any process that must be followed to receive payment?
Checks will be automatically mailed to eligible residents, no paperwork is required.
