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Millions will see surprise $125 stimulus refund for the first time in almost ten years, is one yours?

Indiana residents will see an extra $125 when they file their taxes in 2022.

The law in Indiana requires the state to give taxpaying residents a refund if the reserves are over 12.5% of the general funding pot.

This excludes funding for education.

Indiana recently reported that there was $4 billion in reserves, or 23% of the general fund.

Related: Applications opening Saturday for $500 stimulus check, make sure to schedule your appointment

The amount of the refunds for residents was announced to be $545.3 million in July. The amount residents would receive was still unknown.

Now, it’s been announced that it’ll be $125.

Governor Eric Holcomb of Indiana stated that the year ended with an unprecedented amount in reserves.

Holcomb stated that it was important to get that money back to taxpayers and they planned to work with 910,000 residents who are low income and pay taxes but do not file returns.

The checks will be sent based on how you decide to get your refund for 2021.

Related: These 7 states are still offering stimulus check payments, is one yours?

The last time residents saw this refund was in 2013.

California residents may see similar checks next year since the state currently has a surplus of $31 billion dollars.

The state will allocate these funds to places that benefit taxpayers, and another stimulus program may be one way.

Right now the Golden State Stimulus II checks are still going out.

Related: Deadline for $1,400 stimulus plus up payment is in just two weeks, are you eligible?

These checks are worth $600 to $1,100 and residents should receive checks through the mail on Jan. 21, 2022 at the latest.

Maine residents that earn under $75,000 are expecting stimulus checks worth $285.

St. Louis also just opened applications to residents that qualify for stimulus checks worth $500 per household.

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