Stimulus payment 2022: Direct $200 tax refund checks hitting bank accounts for millions now
Indiana taxpayers are already receiving $200 in their bank accounts from a tax refund check, days before the checks were expected to be disbursed.
Lawmakers approved the refunds during a special session earlier this month after the refund was proposed by Gov. Eric Holcomb (R-IN). The Indiana Department of Revenue expected most, or even all, of the automatic payments to reach people on Wednesday and provided information for 1.5 million taxpayers to the state’s banking system on Tuesday, thus starting the process.
DEADLINE TO APPLY FOR $500 MONTHLY DIRECT CHECK PAYMENTS IN JUST SEVEN DAYS
“There are several factors that affect the time it takes for this process that are outside DOR’s control. Some banks are slower to accept outside ACH deposits than others,” a Department of Revenue spokesperson told WRTV. “We expect most ATR direct deposits to arrive in Hoosier’s bank accounts on or around Aug. 24.”
Those who qualify must have received benefits from Social Security for 2022 and “not be claimed as a dependent on a 2022 Indiana income tax return” in order to get the $200 credit, the department said. Those who received the state’s initial $125 refund through direct deposit can expect the $200 additional inflation relief refund to also deposit into their accounts. The initial refund came from a separate Automatic Taxpayer Refund that was triggered after the state’s surplus exceeded expectations.
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Paper checks of the $125 refund were expected to roll out in July, yet a paper shortage prevented their release. Those who have not received the first check can expect the refund to roll into the same check as the additional refund, meaning the checks would equal a total of $325. Those who filed jointly but did not receive the $125 refund can expect a check of $650, according to the department.
Those who do not receive any check despite qualifying should contact the state’s revenue department after Nov. 1, it said. Indiana prints 50,000 checks a day, but it needs to send the checks to about 1.7 million people. The process is supposed to be completed by early October, Auditor Tera Klutz told FOX 59.