Indiana residents are about to receive tax rebates as high as $650 after check-printing delays from the state auditor’s office.
State Auditor Tera Klutz said the first batch of rebate checks should be mailed out to taxpayers beginning later this week.
CONSUMERS MAY QUALIFY FOR OVER $10,000 IN CLIMATE TAX BREAKS AND REBATES
“We have worked tirelessly with the Governor’s team to get Hoosiers their checks, and despite the many challenges we encountered, we are pleased to get printing started. To those Hoosiers who have been patiently waiting for their check, I want to say — the wait is over! We have successfully printed the first round of checks, which eligible Hoosiers should start to receive this weekend,” Klutz said.
The two rounds of tax rebates come from the state’s massive budget surplus two years in a row. The first tax rebate was triggered automatically last year when the state’s reserves surpassed 12.5% of the state budget general fund, giving all taxpayers a $125 rebate each. The second round of rebates came from Gov. Eric Holcomb signing into law a bill earlier this month that gave those eligible for the first rebate an additional $200 payment due to the state’s massive budget surplus.
Eligible residents for both payments include those who filed taxes in the state for the 2020 tax year with a postmark date of Jan. 3 or earlier. Most taxpayers will receive combined payments of $325, but joint filers will receive a total of $650.
Most taxpayers who have enrolled their tax refund to arrive via direct deposit have already received the first rebate and will get the second payment via the same method, according to the state. The 1.7 million checks are now being sent to taxpayers who are not enrolled in direct deposit after check-printing problems were resolved.
“Like many industries, state government was not spared the headaches that come from dealing with a shortage — in our case, a paper shortage. We typically don’t print this many checks at one time, which created the challenge of locating the amount of paper required to print the 1.7 million checks needed,” Klutz said. “Luckily, this challenge became a ‘blessing in disguise’ since the paper arrived within days of SEA 2 becoming law, enabling us to send Hoosiers one check instead of two which saves the State an additional $1 million in processing, printing and postage costs.”
Klutz said she anticipates all 1.7 million checks will be delivered to taxpayers by early October.
CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER
Indiana is one of multiple states giving surplus budget funds back to taxpayers. In Massachusetts, for instance, taxpayers are receiving a tax rebate thanks to a provision in a 1986 law about state tax collection revenues.
