FOR IMMEDIATE RELEASE
Contact: Stephanie McFarland, APR
Indiana Not Among States Delaying or Issuing IOUs on Tax Refunds
INDIANAPOLIS (July 7, 2009) – In stark contrast to states like California, Georgia, Kansas, Maryland and Missouri, who have delayed sending out income tax refunds or have been forced to issue IOUs to taxpayers, Indiana issued refunds right on schedule this year.
The Indiana Department of Revenue reports it has processed more than 3 million individual income tax returns this year to date. As a result, more than 2 million refunds were issued from January to June 30, which is the normal time frame by which the State of Indiana issues the majority of refunds each tax season.
“We’re fortunate as taxpayers to have solid leadership at the helm in our state,” said Revenue Commissioner John Eckart. “Because Indiana is holding steady, relative to many other states, we did not run into cash-flow problems.”
In fact, Eckart said his agency made refunds a high priority. “With so many people impacted by the national economy, we worked diligently to get refunds issued as quickly as possible. After all, a legitimate refund reflects that a taxpayer has overpaid his or her fair share of taxes throughout the year.”
Refunds in Indiana totaled more than $505 million in 2009, with the average refund being $252. From January to June 30, refunds from paper returns were issued in an average of 26 days – well ahead of the revenue agency’s standard six to twelve weeks to process a refund from a paper return. The Department of Revenue received the bulk of paper returns – approximately 600,000 – after April 15.
Those who filed electronically by April 15 and had their refunds directly deposited into their bank accounts saw a faster turnaround of about 2 days. Overall to date, more than 1.9 million Indiana individual income tax returns were filed electronically in 2009.