INDIANAPOLIS – Some Hoosiers are already seeing extra money in their bank account.
Payments from Indiana’s Automatic Taxpayer Refund are starting to arrive. Individual taxpayers will get $125 while married couples who filed jointly will get $250.
The state revealed back in December that Indiana taxpayers would get the refund after filing their 2021 taxes. The Department of Revenue and Auditor of State’s Office are working together to distribute the money.
An estimated 4.3 million Hoosiers are eligible.
Gov. Eric Holcomb said the money is effectively a 12% cut in the average Hoosier’s annual income tax liability. Approximately $545 million will be returned to taxpayers after the state ended its fiscal year with a surplus to trigger the refund.
Most payments are expected to come via direct deposit using information gleaned from tax returns. Some taxpayers will get a check mailed to them instead. The refund is separate from any money Hoosiers may have received after filing their individual state income tax return.
Direct deposits were expected to start hitting bank accounts at the beginning of May and continue through July. Mailed checks should arrive starting in late July. The checks will continue through August, with the goal of having all payments distributed by Sept. 1.
The state hasn’t yet provided information on what to do if you don’t get the money. The Department of Revenue said that information would be available on its website “on or around Sept. 1.”