Indiana Administrative Code — Title 45 (Dept. of State Revenue)
45 IAC 15-8-1
Partial payments
Sec. 1. (a) If a taxpayer makes a partial payment of the taxpayer's tax liability, the payment shall only be applied first against the penalty,
second the interest and third the principal liability of the particular billing for a given year and tax.
EXAMPLE
A taxpayer has outstanding tax liabilities for both income and sales tax for years 19X1, 19X2 and 19X3. If the taxpayer makes a partial
payment for the outstanding income tax liability, the payment will first be applied to the penalty, interest and principal liability for income tax in
19X1. If any payment remains, it will be applied in the prescribed order for 19X2 and 19X3.
(Department of State Revenue; 45 IAC 15-8-1; filed Oct 1, 1987, 1:30 pm: 11 IR 542)
Amendment history
(Department of State Revenue; 45 IAC 15-8-1; filed Oct 1, 1987, 1:30 pm: 11 IR 542)
Source: view the official text
Nearby sections (25 sections)
- 15-5-2 · Protests
- 15-5-3 · Hearings
- 15-5-4 · Letter of findings
- 15-5-5 · Rehearings
- 15-5-6 · Demand for payment
- 15-5-7 · Statute of limitations on issuance of proposed assessment
- 15-5-8 · Jeopardy assessments
- 15-6-1 · Extensions
- 15-6-2 · Holidays
- 15-6-3 · Date of filing
- 15-7-1 · Disclosure of information
- 15-7-2 · Individual filing returns; disclosure of information
- 15-8-1 · Partial payments
- 15-8-2 · Demand notices; tax warrants
- 15-9-1 · Due date; net operating loss
- 15-9-2 · Statute of limitations for refunds
- 15-10-1 · Joint returns
- 15-11-1 · Liability for interest
- 15-11-2 · Liability for penalty
- 15-11-3 · Preparation of return by the department
- 15-11-4 · Fraudulent intent to evade tax
- 15-11-5 · Bad checks; penalty
- 15-11-6 · Information return
- 16-1-1 · Definitions
- 16-1-2 · Insurance coverage