New York DTF Issues Press Release Announcing Proposed Inflation Refund Checks

The New York State Department of Taxation and Finance (DTF) Dec. 18 issued a press release announcing that Governor Kathy Hochul has proposed an “Inflation Refund” plan to send checks of $300 for single filers earning less than $150,000 and $500 for joint filers earning less than $300,000 to help offset the impact of rising costs. The refund checks would be issued later in 2025 using $3 billion in surplus sales tax revenue collected by the state due to inflation. [N.Y. Dep’t of Tax’n & Fin., Press Release: Governor Hochul’s Op-Ed in The Post-Standard: Why I’m Putting Money Back In ...