Social Security checks could increase, but analysts warn it may be ‘pretty underwhelming’
Analysts predict a 2.8% increase in Social Security checks for 2026, but the rise may not be enough to offset the growing inflation, especially for seniors living on fixed incomes.
Benzinga
Checks up to $400 are going out to New York residents now — here’s how much you could receive and who qualifies.
How much will you receive?
The amount of your one-time inflation refund depends on your income and tax filing status for the 2024 tax year.
According to the New York State Department of Taxation and Finance, here’s what to expect:
Individuals
- Income up to $75,000: $200
- Income between $75,001–$150,000: $150
Married Couples Filing Jointly
- Income up to $150,000: $400
- Income between $150,001–$300,000: $300
Married Couples Filing Separately
- Income up to $75,000: $200
- Income between $75,001–$150,000: $150
Head of Household
- Income up to $75,000: $200
- Income between $75,001–$150,000: $150
Qualified Surviving Spouses
- Income up to $150,000: $400
- Income between $150,001–$300,000: $300
Are you eligible?
You may be eligible for a check if you met all three of the following criteria for the 2023 tax year:
- Filed Form IT-201, the New York State Resident Income Tax Return
- Reported income within the qualifying thresholds listed above
- Were not claimed as a dependent on someone else’s return
When will you get your check?
The state will begin mailing checks in October, with most expected to arrive by November. There’s no specific mailing schedule — checks are not sent out by ZIP code or region, and you won’t be able to track your individual payment. The Department of Taxation and Finance says their Contact Center will not have updates on check delivery status.
No action required
If you qualify, you don’t need to apply. Checks will be sent automatically to eligible residents by mail. To preview what the check looks like and for official updates, visit: ny.gov/inflationrefund
How many people will get checks?
Here’s the number of expected recipients by region:
- New York City: 3.53 million
- Long Island: 1.25 million
- Mid-Hudson: 924,000
- Western New York: 585,000
- Finger Lakes: 513,000
- Capital Region: 475,000
- Central New York: 321,000
- Southern Tier: 251,000
- Mohawk Valley: 198,000
- North Country: 156,000