INDIANAPOLIS (WOWO): Indiana Gov. Eric Holcomb announced Wednesday that all Hoosier 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 doled out to about 4.3-million Indiana residents. The Governor says he is working with the Indiana General Assembly to make an additional 910,000 taxpayers eligible. Once legislation passes, the Department of Revenue (DOR) will begin processing payments.
The typical taxpayer liability is approximately $1000. The payment represents a 12-13 percent one-time tax cut. Taxpayers who apply for an extension will receive the payment after filing their return.
DOR says they expect to complete refunds for taxpayers by the April 18, 2022 filing deadline by May 1, 2022.
