Residents in the state of Indiana can soon expect tax refund payments worth $125 in the coming weeks thanks to a budget surplus.
The refund is automatic and legally required when the fiscal year ends with a large surplus.
4.3 million residents can expect this payment, which makes up around 85% of the population.
If you’re in a marriage where you file jointly, you and your spouse can expect a payment of $250.
IRS: Why did I get an unexpected tax refund?
This specific type of refund started in 2011 and since then only happened in 2012.
In 2012 residents received payments worth $111.
If your banking information was on your 2021 taxes and submitted on time you’ll see the $125 directly deposited into your bank account.
IRS: Average increase is over $400 for 2022
The refunds will start in May and continue through the summer.
Anyone receiving a paper check can expect their payment in July or August.
If your address changed, you can notify the state through the tax portal.
All payments will be sent by Sept. 1, 2022.
There is no need to apply for the payment, it is automatic.
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