This Thanksgiving Eve, eligible New Yorkers will receive over $5,000. With the holiday season in full swing, many households can expect to see an uptick in expenses during this time of the year, notwithstanding the increases in heating expenses for those households that experience colder winter weather conditions. As such, it is more important than ever that households all receive their expected incomes on time in order to budget their holiday season effectively.
Increases in expenses during the holidays
Season celebrations often see an uptick in expenses for households, thanks to higher food expenses, travel costs, gifts, and an increase in social gatherings among family and friends. These added expenses can make this time of the year particularly stressful, putting a damper on the holiday spirit, with people feeling pressured to participate in the holiday spirit, which may be out of their usual monthly budget.
With this added financial pressure, it is imperative that individuals are paid their monthly incomes and social support payments on time during this time of the year. While this is always the case throughout the year, the added financial pressure of the holidays will require stricter budgeting to ensure that all necessary expenses are accounted for before discretionary spending is done.
New Yorkers to collect over $5,000 on Thanksgiving Eve
One government entity that has never failed to pay its residents on time is the Social Security Administration (SSA). Since its inception, the SSA has famously ‘never missed a payment’ for its beneficiaries. This was the case during World War II, as well as the most recent 43-day federal government shutdown, whereby many other federal social programs were unable to operate. With many of the SSA’s beneficiaries relying on these payments as their only source of income, it is critical that they are paid on time every year.
With Thanksgiving falling on November 27 this year, some SSA beneficiaries will receive their benefits on Thanksgiving Eve, according to the official SSA schedule. On top of this nationwide payment, New Yorkers who receive SSA benefits can also expect to see a plethora of other payments come their way this month, thanks to local payment and rebate initiatives, such as the new inflation rebate payments and the School Tax Relief (STAR) program rebate payments.
The upcoming Thanksgiving Eve payment for beneficiaries is for those who have a birthdate between the twenty-first and the thirty-first of any given month. Of these beneficiaries, some will be eligible to receive up to $5,108 from the SSA. However, this payment has unique eligibility criteria that retirees must meet to receive the maximum $5,108 payment.
New Yorkers continue to strive for increased affordability
With New York boasting some of the highest cost-of-living expenses in the country, the state’s authorities have made an effort to expand the Financial Year 2026 budget to include increased social support for families to make living in the state more affordable. This has been achieved through tax cuts, investment in childcare, expanding the Child Tax Credits, and one-time stimulus payment initiatives for eligible households.
“We delivered on our affordability commitments in the Budget, and Western New Yorkers are now going to be able to afford the rising cost of groceries, keep up with inflation and raise their family in the best state,” Governor Hochul said in a statement.
On top of these local efforts to make a more affordable living situation, other efforts that are expected to financially assist New Yorkers include the implementation of the ‘No Tax on Tips’ legislation, which will affect workers in the service and hospitality industry across the country. The new legislation will see these workers permitted to deduct up to $25,000 earned from tips from their taxable income from January 2025 through to January 2028.
Disclaimer: This content is informational only and does not supersede or replace the SSA’s or IRS’s own publications and notices. Always verify any specific dates and amounts by following the direct links in our article to SSA.gov or IRS.gov, or by consulting your local SSA field office or tax professional.
