Millions of Americans will be surprised to see an extra $125 tax refund once they file their tax returns.
This is specific to Indiana residents.
They will see a check or direct deposit once they file their 2021 tax returns.
This is happening because by law, the state must give a refund to taxpayers if the reserves are worth over 12.5% of the funding available.
Currently there is $4 billion in reserves, bringing the pot to more than 23% of its general fund.
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Indiana state residents haven’t received this type of refund since 2013.
In July it was announced that $545.3 million would be split among Indiana taxpayers.
In addition to taxpayers who file their taxes, the state is planning to work with around 910,000 low income residents that do not file returns.
This way they will receive their $125 they are entitled to.
The payments can be claimed before April with the tax deadline being April 18, 2022.
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