(Indianapolis, IN) - An estimated 4.3 million Hoosiers can expect a $125 automatic taxpayer refund this spring after the state's revenue collections outpaced expectations last year, according to Indiana State Representative Jim Pressel (R-Rolling Prairie).
“A new law I supported expanded the list of who qualifies for this refund to include those who did not earn enough money to file a state return,” Pressel said.
Pressel said these additional 900,000 Hoosiers should receive a refund because they still pay state sales taxes, which are deposited into the state's general fund, and, in the case of retirees, may have paid income taxes throughout their working years.
In total, he said $545 million would be returned to Hoosier taxpayers, and another $545 million will go toward teacher pension obligations. The Indiana Department of Revenue expects to have refunds processed by May 1 for Hoosiers who complete their taxes by the April 18 deadline.
“Hoosiers work hard and it's important to return money back to taxpayers, where it belongs,” Pressel said.