From the Northwest Indiana Times:
An Internal Revenue Service delay in accepting income tax returns slowed payments of Indiana tax refunds last month and pushed state revenue well above expectations.
Indiana's January revenue totaled $1.426 billion, according to the State Budget Agency. That's $106.1 million more than the state revenue forecast and an 8.4 percent jump compared to last January.
State Budget Director Chris Atkins said Wednesday that last month's individual income tax revenue of $618.9 million, nearly 19 percent above target, and corporate income tax revenue at 107.5 percent above expectations will likely be offset by lower February totals, as delayed state tax refunds are paid out.
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http://www.nwitimes.com/news/local/govt-and-politics/irs-delay-temporarily-boosts-state-revenue-above-forecast/article_2654b5e3-b95b-5303-8631-eb88000f4fe3.html
