Indiana DOR Issues Updated Income Tax Bulletin on Payment of Indiana Estimated Tax by Individuals

The Indiana Department of Revenue Dec. 1 issued an updated income tax bulletin on the payment of estimated state tax by individual income taxpayers. The updated bulletin: 1) clarifies that any installment payment postmarked after Jan. 15 for the preceding calendar year will be treated as a payment for the preceding calendar year, not as an estimated payment for the following year; 2) reflects rate changes and new exemptions for first-time qualifying dependents and adopted children; 3) clarifies that pass-through entity tax credited to an individual is treated as a withholding payment for purposes of determining any estimated tax penalties; ...