Hoosier taxpayers will be receiving $125 refunds after they file their 2021 taxes next year through the state’s automatic taxpayer refund process.

The announcement was made on Wednesday.

“Despite a pandemic, Indiana exceeded all expectations and closed the state fiscal year with an unprecedented amount in reserves,” said Gov. Eric Holcomb. “We have an obligation to put this money back in the hands of taxpayers instead of leaving it in the hands of government.”

The state will refund an estimated $545 million to taxpayers.

Taxpayers will receive the refunds after the April 18, 2022 filing deadline.

More information will be released by the Department of Revenue in the new year.