Excess tax payments; procedure for credit or refund
Sec. 2. (a) If the department finds that a person has paid more tax
for a taxable year than is legally due, the department shall apply the
amount of the excess against any amount of that same tax that is
assessed and is currently due. The department may then apply any
remaining excess against any of the listed taxes that have been
assessed against the person and that are currently due. If any excess
remains after the department has applied the overpayment against the
person's tax liabilities, the department shall either refund the amount
to the person or, at the person's request, credit the amount to the
person's future tax liabilities.
(b) If a court determines that a person has paid more tax for a
taxable year than is legally due, the department shall refund the
excess amount to the person.
(c) An excess tax payment that is not refunded or credited against
a current or future tax liability within ninety (90) days after the date
the refund claim is filed, the date the tax payment was due, or the
date the tax was paid, whichever is latest, accrues interest from the
date the tax payment was due or the date the tax was paid, whichever
is later at the rate established under IC 6-8.1-10-1 until a date,
determined by the department, that does not precede by more than
thirty (30) days, the date on which the refund or credit is made.
(d) As used in subsection (c), "refund claim" includes an amended
return that indicates an overpayment of tax.
As added by Acts 1980, P.L.61, SEC.1. Amended by P.L.6-1987,
SEC.13; P.L.92-1987, SEC.11; P.L.48-1994, SEC.2; P.L.28-1997,
SEC.27.
Last modified: May 28, 2006