Money is hitting taxpayer bank accounts this week from the newly-passed $200 state rebate.
Hoosiers are reporting online that the payment made possible due to the state’s $6.1 billion surplus has already arrived and the Indiana Department of Revenue posted an update.
The agency provided direct deposit information for almost 1.5 million taxpayers to the state’s banking institution on Tuesday. “There are several factors that affect the time it takes for this process that are outside the agency’s control” but officials expect most of the new refund direct deposits to arrive in Hoosiers’ bank accounts by Aug. 24.
As of Aug. 16, the agency had issued new refunds totaling over $403 million.
Also, the Auditor of State began printing checks Monday for the original $125 automatic taxpayer refund. Many taxpayers without direct deposit information on file have been waiting for that check, which was delayed due to a paper shortage.
With roughly 50,000 checks printed each day, the Auditor’s Office anticipates all 1.7 million refund checks will be mailed by early October. If you haven’t received the first paper check, the state will combine both payments in one for $325.
As of Aug. 3, the Department of Revenue issued over 1.5 million automatic taxpayer refunds to more than 2.1 million taxpayers, totaling over $254 million for the initial payment.