INDIANA (WTHI)- Automatic Tax Payer Refund checks for Indiana taxpayers are coming to wallets and bank accounts.
Taxpayers are receiving these extra funds from the state government. The money comes from years of tax collecting. This year, the government had a surplus of money after completing its projects. So, the state government decided to give that back to Hoosier taxpayers.
Indiana University Business Professor Joe Fitter said this extra money is a goodwill gesture from the government.
“It’s more of a feel-good quite honestly,” he said. “[It says that] Hey! We were fiscally conservative, and we were fiscally disciplined as a state and as a result of that we are getting a little money back for our hard work.”
How you receive these two money payments will depend on how you filed your 2021 individual income tax return. If your direct deposit is listed, you should have already received the first payment of $125. You should get another deposit of $200 very soon. Otherwise, you’ll receive a paper check for the combined $325.
While it’s only a couple hundred dollars, this extra cash seems to excite local taxpayers.
News10 spoke with Gwen Jenkins as they were out grocery shopping. They said they know exactly where their extra cash is going.
“I’ll be able to buy some groceries,” Jenkins said. “Fill up my car. That’s a good thing.”
While these checks may help some Hoosiers stay on their feet, Fitter said he doesn’t believe this extra cash will be a huge boost for the economy.
“I don’t know if it’s really that stimulative,” he said. “It’s probably about a billion dollars total. It’s not an insignificant amount in total. But, in reality, our economy here in Indiana is pretty robust, pretty strong. That spending will be spent all around the country, not just here in Indiana.”
Still, Jenkins believes this will do her some good.
“It’s a good thing,” she said. “It’s hard out here now.”
With this extra money comes more concerns. Fitter said to beware of scams. This money will be delivered via direct deposit or mailed to you. If you receive any texts or emails asking you for personal information to receive your check, it’s probably a scam.
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