INDIANAPOLIS — The Indiana Department of Revenue (DOR) will start accepting filings for the 2024 Individual income tax season on Monday, Jan. 29, along with the Internal Revenue Service.
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, 2024.
Please take note of a few 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.
• 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.
• 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.
• The Indiana Earned Income Tax Credit is now 10% of the federal credit, with a prorated credit available for nonresident individuals.
Visit www.in.gov/dor/individual-income-taxes/ for more information.