You can probably expect a little bit of spending money in 2022, courtesy of the State of Indiana.
An estimated 4.3 million Indiana taxpayers will get a $125 refund after they file their taxes, should pending legislation pass and become law, Gov. Holcomb said Wednesday.
“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 the government.”
An estimated $545 million will be returned to Hoosiers after taxpayers file their 2021 state taxes.
Gov. Holcomb is working with leaders of the general assembly on legislation that will make an additional 910,000 taxpayers eligible for the credit.
Once the legislation passes, the Department of Revenue will begin processing payments for taxpayers.
The type of payment you receive will depend upon how you filed your 2021 tax return. Taxpayers who apply for an extension will get the payment after filing their return.
DOR expects to complete refunds for taxpayers filing by the April 18, 2022 deadline by May 1, 2022.
