Department of Revenue Warns Parents to Guard their Children’s Personal Information

As odd as it may sound, the Indiana Department of Revenue is asking individuals to check their children’s credit reports, regardless of their age.

Identity thieves are always looking for identities that can be used for many years which is why children are typically seen as apt targets since thieves can to use their information unnoticed for a while.

Often times the theft is not discovered until the child grows up and applies for a student loan or a credit card and gets denied for having large amounts of debt or bad credit; it is only then that they realize their identity has been stolen and used for several years. Continue reading

State Revenue Report Indicates Increase In Collections

The monthly revenue report for April 2012 state tax collections was recently released.

Total revenue collections were $1.8 billion, $159 million more than projected by the revenue forecast updated on Dec. 14, 2011. Through April, state general fund revenues have increased 9 percent compared to the same period last year.

Individual income tax collections significantly exceeded the April target, primarily as a result of the Department of Revenue’s improvements in the processing of tax returns. The 44.9 percent growth in individual income tax collection is also partially attributable to a 20 percent increase in withholdings.

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