If you live in New York and still haven’t seen anything in your mailbox, wait, don’t worry. If you’re wondering why there should be something in your mailbox, the answer is simple: the state government is sending out refund checks to help offset the inflation that we’re still dealing with from the COVID pandemic.
It’s part of Kathy Hochul’s plan to benefit millions of New York taxpayers before the end of this year.
According to data from the State Department of Taxation and Finance, four million of the eight million planned checks have already been sent, and in total, more than 2 billion dollars will be returned to state residents. All automatically, without paperwork, so you don’t have to do anything, but it’s good to know where this money is coming from.
Fighting inflation
The idea is to give money back to people to compensate for the rising cost of living after the pandemic. And as you surely know, the pandemic was a before and after in our lives, and the economy is still feeling the effects.
These checks will not be sent by area or by last name, but in order of processing. So if your neighbor already got theirs and you haven’t, don’t worry: all checks should arrive before the end of the year, or at the latest, by the end of November.
You don’t have to do anything
One of the best parts of this program is that there’s no paperwork at all. You don’t have to fill out forms or register anywhere, just by meeting the state’s tax requirements, the check will arrive automatically.
However, if your situation is more specific (for example, you filed a joint return or your spouse recently passed away), you can check the official information on the Department of Finance website: tax.ny.gov.
Do you have to declare this money?
Good question. In principle, you won’t have to declare it as income, so it won’t affect your state tax burden for the year.
That said, the IRS (the Federal Tax Agency) still needs to confirm whether these payments will be taxable at the federal level or not, but that decision will be known before the next tax season, so don’t worry about that for now!
And careful, because if the refund is not considered income, it could mean more money in everyone’s pocket!
What if the check doesn’t arrive?
If you believe you meet the requirements but still haven’t received anything by December, you can contact the New York State Department of Taxation and Finance directly by calling 518-457-5181.
The department insists that all checks will be delivered before the end of the year, so don’t lose patience!
Help that arrives on its own
In a country where asking for help can sometimes feel like a maze, this program is so simple that we love it! No forms, no lines, you just have to wait for the money. Sounds like a good plan to us. And while it won’t solve all our problems at once, for many it will be a help that makes a real difference, and for those it doesn’t, no one is going to turn down an envelope full of money, right?
So, if you’re asking yourself “Where’s my check?”, the answer is simple, on its way!