An immediate $125 payment has been sent out, plus a $225 bonus due in a few weeks from the $1 billion pot.

A one-time $125 Automatic Taxpayer Refund will be issued to the majority of Indiana taxpayers. A second refund may be issued in the future.

Governor Eric Holcomb proposed sending taxpayers a second payment of $225 each, or $450 for married couples.

According to Fox 59, the state is expected to return nearly $1 billion to its taxpayers due to its surplus.

Hoosiers need nothing to do to receive a refund, but...

According to the state website, they must have lived in the state for at least one year and filed a 2020 tax return to qualify for the $125.

The General Assembly will meet in a special session on July 6 to decide on the proposed payments by August 15.

In a time of economic strain, this is the fastest, fairest, and most efficient way to return taxpayers' hard-earned money," said Holcomb. 

"Indiana's economy is growing, and taxpayers deserve to receive their money back responsibly," he added.

What is the Automatic Taxpayer Refund?

Any surplus funds from the state budget will be given back to residents as a refundable tax credit. 

Nearly $545 million will be returned by the state this year. 

Taxpayers who file individually will be due $125, while married couples filing jointly will receive $250. 

Approximately 4.3 million Hoosiers will receive the $125 payment, or about 85% of the adult population. 

Taxpayers should wait until September 1 to enquiery the Department of Revenue about their payment status. 

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