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Story summary
- New York Department of Taxation and Finance says New Yorkers must consider inflation when filing 2025 taxes.
- Updated credits include inflation refunds of $150 to $400 issued last fall.
- Governor Kathy Hochul's office says over 8.2 million checks were issued under a $2.2 billion program.
- New York does not tax these payments, but federal tax implications remain unclear.
- Residents filing 2025 returns will face rules, including expanded child tax credits.
