Inflation Relief Checks Are Coming: What You Need To Know

Forbes

19 hours ago

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.
Residents of New York, Georgia and Alaska may experience welcomed déjà vu in coming months as inflation relief checks arrive, reminiscent of pandemic stimulus checks.
While talk of federally funded tariff rebate checks is being floated around in Congress, inflation relief checks are state-distributed and accessible only to in-state residents.
Alaska residents will receive a flat sum of $1,702 through the state's 2024 Permanent Fund Dividend (PFD) program, which shares revenues from the state's oil and natural resources with its residents annually. The $1,702 includes the permanent fund dividend in the sum amount of $1,403.83, and a one-time energy relief payment of $298.17.
The application season is between January 1 and March 31 each year. Although applications are closed for both the 2024 and 2025 checks, residents have until August 31, 2025 to update their banking and address information through the myAlaska portal .
To qualify for the 2025 checks, residents must have lived in Alaska every day of 2024, stayed under the 180‑day absence cap, avoided felony convictions in 2024 and didn't claim residency in another state since December 31, 2023.
Over 600,000 Alaskans will receive relief payments. Some applicants already received payments in 2024, but others, including the 2025 applicants, will get their money in August, September or October of this year. Alaska's Department of Revenue has the full payment schedule available.
The Georgia Surplus Tax Refund, the third round of such payments, is eligible to residents who filed 2023 and 2024 individual income tax returns, have paid the IRS all tax payments and do not owe the Georgia Department of Revenue.
Refunds are capped at the following rates: $250 for single filers and married individuals filing separately
$375 for head of household filers
$500 for married individuals filing jointly
So far, nearly 3 million payments have been sent out, accounting for 90% of payments.
Georgia residents can check the status of their refund here .
New York will send out its first-ever, one-time inflation refund check to residents, for an amount up to $400. Over 8 million New Yorkers are eligible, with checks expected to be mailed out over a multiple-week period starting in mid-October of this year to the address on their most recently filed tax return.
Residents must have been a full-time New York resident in 2023 to qualify. No need to apply—if you qualify, you will automatically receive a check in the mail. Refund amounts depend on the resident's income and filing status for the 2023 tax year: Single taxpayers earning up to $75,000 will get $200.
Single filers earning more than $75,000 but less than $150,000 will receive $150.
Joint tax filers with an income up to $150,000 will receive $400.
Joint filers earning between $150,000 and $300,000 will receive $300.
For the full refund amounts, head to New York's Department of Taxation and Finance .
While rebate funds should certainly be used toward relieving the cost of everyday expenses like the rising cost of groceries, dining out and energy bills, those with the means can put their checks in high-yield savings accounts (HYSAs) to combat inflation.
According to the Bureau of Labor Statistics, inflation rose by 2.7% between July 2024 and July 2025.
HYSAs offer high-interest yields at a much higher rate than standard savings accounts, allowing money to grow and beat inflation over time.
Options like Synchrony Bank High Yield Savings offer an annual percentage yield (APY) of 3.80%, as opposed to the national average of 0.38%, as reported by the Federal Deposit Insurance Corporation (FDIC).
When choosing a HYSA, look for the best interest rate, keep in mind any fees the institution may charge and note any deposit minimums.
Read more: 10 Best High-Yield Savings Accounts