Indiana Governor Eric Holcomb has announced an estimated 4.3 million taxpayers will receive a $125 refund after they file their 2021 taxes.
“Despite a pandemic, Indiana exceeded all expectations and closed the state fiscal year with an unprecedented amount in reserves,” said Gov. Holcomb. “We have an obligation to put this money back in the hands of taxpayers instead of leaving it in the hands of government.”
An estimated $545 million will be returned to Hoosiers after taxpayers file their 2021 state taxes. The Governor is working with leaders of the general assembly on legislation that will streamline the process and make an additional 910,000 taxpayers eligible for the credit. The typical taxpayer liability is approximately $1000. This payment represents a 12-13% one-time tax cut.
Once legislation passes, the Department of Revenue will begin processing payments for taxpayers.
The form of taxpayer payments will be based on how the 2021return was filed. Taxpayers who apply for an extension will receive the payment after filing their return.
DOR expects to complete refunds for taxpayers filing by the April 18, 2022, filing deadline by May 1, 2022. One the details are finalized DOR will provide additional information in 2022.
5 comments
I have lived all over this Nation. I never knew about Indiana. Now, living here I understand how sensible, government is. All government has flaws but this State seems to have a good sensible balance. How many States have freedom left, sensible rules and a balanced budget? GLAD I no longer live in California or ever lived in Illinois !!!
Yeah, the worst thing about Indiana is that we had some blue laws (still do for cars) and that we will be very slow to legalize pot. The Constitutional carry debacle was kind of frustrating also, stymied by the state GOP.
Overall though, it’s really not bad here. Certainly things could be much worse (look at Illinois!)
I wonder if married couples get $250?
Was there NOT a news article that HOLscumb was looking to get MONEY back from people???
Yes, ones that were overpaid on COVID unemployment benefits. I fully expect Indiana to attempt to claw back overpaid funds. That is the correct course of action.