UPDATE: Indiana House approves deal for inflation relief, social services
The Indiana House approved a bill Friday that would provide $200 rebate payments from the state’s surging budget surplus. The Senate could consider the bill later Friday.
Taxes
Articles
Indiana Senate easily approves its version of inflation relief
The Senate’s decision sets up a showdown with the House over what the final package will look like.
Indiana House advances proposal for spending some of $6.1B surplus
House Bill 1001 also expands the pool of eligible Hoosiers for the checks to include those using Social Security and disability benefits. Additionally, it shores up various funds in support of families and repeals the state’s diaper tax.
Manchin says he has reached deal with Democrats on economy, climate bill
The deal aims to lower health-care costs, combat climate change and reduce the federal deficit, marking a massive potential breakthrough for President Joe Biden’s long-stalled economic agenda.
Indiana House proposes larger, costlier taxpayer ‘refund’ plan
House and Senate Republicans in the Indiana General Assembly remain on a collision course over how to provide inflation relief for Hoosiers after committees from both chambers passed bills that take vastly different approaches.
Senate Republicans balk at Holcomb’s tax refund proposal
Indiana Senate Republicans effectively signaled their opposition to Gov. Eric Holcomb’s plan by presenting an alternative proposal aimed at providing some financial relief for Hoosiers during a period of record-high inflation.
Indiana gas tax rising slightly in August despite price drop
A total of 62.4 cents per gallon in state taxes will be charged during August, the Indiana Department of Revenue announced Monday.
IBJ Podcast: The state has $6.1B in reserves. What will lawmakers do with it?
In this week’s podcast, IBJ Editor Lesley Weidenbener—in for vacationing host Mason King—talks about the upcoming special session with Peter Blanchard, IBJ’s new Statehouse reporter, and managing editor Greg Weaver, who has spent much of his career writing about and editing reporters who cover Indiana politics.
Indiana has a $6.1 billion surplus. Will taxpayers get some of it back?
As the Legislature prepares to consider Gov. Eric Holcomb’s proposal to return $1 billion of the surplus to taxpayers, some legislators and business leaders question whether that’s the best use of the windfall.
Indiana finishes fiscal year with more than $6 billion in reserves
The news comes as state lawmakers prepare to consider Gov. Eric Holcomb’s proposal to send $1 billion to taxpayers in the form of $225 refund checks.
Investigation: State lotteries transfer wealth out of needy communities
A nationwide investigation of state lotteries by the Howard Center for Investigative Journalism at the University of Maryland found that lottery retailers are disproportionately clustered in lower-income communities in nearly every state.
As Indiana considers second tax refund, some wonder: where’s the first?
As of June 22, Indiana had issued about $245.6 million in refunds, according to the Department of Revenue. That’s about 45% of the $545 million Gov. Eric Holcomb promised to return when he announced the move in December 2021.
‘Groundhog Day’ at IRS: Returns pile up, phone delays worsen
After digging out of a daunting backlog from 2021, the agency has an even bigger backup for this tax season than it did a year ago and its pace for processing paper returns is slowing down, according to a watchdog report released Wednesday.
Indiana to get $2.9M in settlement over ‘free’ TurboTax ads
Indiana’s share is part of a $141 million settlement across 50 states and the District of Columbia. Approximately 4 million people across the United States were affected, including more than 98,000 Indiana residents.
Automakers ask Congress to lift electric vehicle tax cap
In a letter to leaders of the Senate and House of Representatives on Monday, the chief executives of Ford, Toyota, GM and Stellantis asked that tax credits be extended to anyone who seeks to buy a qualified vehicle.
Holcomb proposes $1B refund for Indiana taxpayers
Gov. Eric Holcomb announced a plan on Thursday to call a special legislative session at the end of June and propose that $1 billion in state reserves be returned to Indiana taxpayers. Each taxpayer would collect about $225 under the plan.
Indiana’s total gas tax to remain at 56 cents a gallon in June
Indiana’s average pump price hit $4.62 for a gallon of regular as of Thursday, up from $3.93 a month ago, according to AAA.
Intuit to pay $141M settlement over TurboTax ads touting free tax filing
Under the terms of a settlement signed by the attorneys general of all 50 states, Intuit Inc. will suspend TurboTax’s “free, free, free” ad campaign and pay restitution to nearly 4.4 million taxpayers.
IRS expects to receive tens of millions of tax returns on Monday
Monday is Tax Day—the federal deadline for individual tax filing and payments. About 40% of this year’s taxpayers still haven’t filed a return.
Indiana automatic taxpayer refund to be sent starting next month
Hoosiers should expect to start receiving a $125 automatic taxpayer refund in May, Indiana Gov. Eric Holcomb announced Wednesday.