Incentive Payment 2022: $200 Instant Tax Refund Checks Now Reaching Millions of Bank Accounts | USA & World

lndiana taxpayers are already receiving $200 in their bank accounts from a tax refund check days before the checks were expected to be paid out.

Lawmakers approved the refunds in a special session earlier this month after the refund was proposed by government Eric Holcomb (R-IN). The Indiana Department of Revenue expected most or even all automatic payments to reach people on Wednesday and provided information for 1.5 million taxpayers to the state’s banking system on Tuesday, kicking off the process.

DEADLINE TO REQUEST A MONTHLY DIRECT CHECK PAYMENTS OF $500 IN JUST SEVEN DAYS

“There are several factors that affect the time required for this process that are beyond DOR’s control. Some banks are less likely to accept outside deposits than others,” a Department of Revenue spokesman told WRTV. “We expect most ATR direct deposits to arrive in Hoosier’s bank accounts on or about August 24.”

Those who qualify must have received Social Security benefits before 2022 and “not be claimed as an individual dependent on an Indiana tax return in 2022” to get the $200 credit, the department said. Those who received the original $125 refund from the state via direct deposit can expect the additional $200 refund for inflation relief to be deposited into their accounts as well. The initial refund came from a separate automatic tax refund that was triggered after the state’s surplus exceeded expectations.

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The $125 refund paper checks were expected to be rolled out in July, but a paper shortage prevented their release. Those who didn’t receive the first check can expect the refund to go into the same check as the additional refund, meaning the checks total $325. Those who filed jointly but did not receive the $125 refund can expect a check for $650, according to the department.

Those who do not receive a check despite their qualification must contact the state tax authorities after November 1. Indiana prints 50,000 checks a day, but must mail the checks to about 1.7 million people. The process should be completed by early October, auditor Tera Klutz told FOX 59.

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