Indiana's Individual income tax filing opens Jan. 29

DOR encourages customers to use electronic filing, online payment and direct deposit to significantly improve the accuracy and speed of the return and refund processes. Customers must file both their state and federal tax returns and pay any taxes owed for 2023 by Monday, April 15.

DOR reminds Hoosiers they should wait to file their tax returns until they receive all their official tax documents and statements. Employers have until Jan. 31, 2024, to deliver Form W-2s to employees. Attempting to file without all required information can postpone a customer’s refund if one is due.

Please take note of these tax-related updates to Indiana Code:

• The dependent exemption has increased from $1,500 to $3,000 for the first taxable year in which a particular exemption is allowed under Section 151(c)(1)(B) Internal Revenue Code (as effective January 1, 2004). IC 6-3-1-3.5
• All military pay for reserve members of the United States armed forces and National Guard is exempt from income tax for taxable years 2023 forward. IC 6-3-1-34
• Investors can provide qualified investment capital to veteran-owned businesses and women-owned enterprises and qualify for the higher maximum amount of venture capital investment credit. IC 6-3.1-24-8
• The College Choice 529 Plan Credit has increased from a maximum of $1,000 to $1,500 for a married couple filing jointly or an unmarried individual, and it increased from $500 to $750 for those married filing separately. IC 6-3-2-2.6
• The Indiana Earned Income Tax Credit is now 10% of the federal credit, with a prorated credit available for nonresident individuals. IC 6-3.1-21-6
• The Career Scholarship Account program has a new income tax deduction for grants received and used towards qualified expenses under IC 20-51.4. IC 6-3-1-3.5

More credits and exemptions and answers to most questions for Indiana Individual tax returns can be found on DOR’s website.

Customers who wish to contact DOR directly can use INTIME’s secure messaging for the most efficient service.