Section 45IAC3.1-1-103. Refund or credit for excess withholding

   Refunds of Excess Withholding and Income Tax Credits. If the amount of withholding exceeds an employee's tax as imposed by these regulations [45 IAC 3.1], the Indiana Department of Revenue will refund the amount of excess withholding deduction; however, such excess or part thereof may be applied against any outstanding claim or liability which the employee owes the Department. Neither will a refund of excess withholding be made to an employee who fails to file his Indiana Individual Income Tax Return within two (2) years from its initial due date, nor will any tax refund be made for an amount less than one dollar ($1.00).

  An excess withholding deduction in no way relieves any employee from the obligation of filing an Indiana Individual Income Tax Return by the fifteenth day of the fourth month following the close of the individual's taxable year. In the case of withholding deductions not exceeding or not equaling the amount of tax due, the unpaid tax must be paid on the due date of the return. (Department of State Revenue; Reg 6-3-4-8(070); filed Oct 15, 1979, 11:15 am: 2 IR 1550; errata, 2 IR 1743)