TaxInterest makes figuring accrued interest simple

TaxInterest lets you organize your tax liability and payment information in an easy-to-use interface. Then, with one click you will instantly see the amount of accrued interest. The rates and methods for interest calculations are built-in and updated regularly to assure TaxInterest is ready when you need it. No more estimating whether the numbers “look right.” Change a date or amount and recalculate for valuable “what if?” calculations.

• IRS Interest - Historical interest rates dating from 1954 to present are updated quarterly. Calculate underpayment, and overpayment (refund) interest.
• State interest - Calculate underpayment and overpayment interest for most states with additional functionality being added through quarterly updates.
• Additional Jurisdictions - Create interest rate tables for cities, sales tax, other countries, etc. Additional functionality planned via quarterly updates.
• Large Corporate underpayment (Hot Interest) - Determine interest on amounts in excess of $100,000 under IRC section 6621(c).
• GATT interest - Incorporate GATT refund interest calculations for C Corps. You can set threshold amounts and allocate IRS check events appropriately.
• Motivated Interest - Apply designated higher rates for substantial underpayments on returns due prior to 1990 (tax motivated transactions).
• Interest on Penalties - Automatically calculate interest accruals on penalties. You can specify notice dates to check IRS calculations.

Reliable penalty calculations

TaxInterest also takes the guesswork out of your penalty calculations. The software gives you the ability to compute specific penalty amounts for FIN 48 disclosures, check your potential exposure, or verify figures from the IRS. You’ll see the bottom line on interest and penalties. All the rules and calculations are built in. You simply select the penalties you need to calculate and immediately see the results.

• Failure to File Return When Due 6651(a)(1)
• Failure to Pay Tax Shown on Return 6651(a)(2)
• Failure to Pay Tax Assessed 6651(a)(3)
• Negligence 6662(c)
• Fraud 6663
• Substantial Understatement of Income Tax 6662(d)
• Valuation Misstatement 6662(e)
• Overstatement of Pension Liabilities 6662(f)
• Estate or Gift Valuation Understatement 6662(g)

Additional functionality is planned to address state penalties for FIN 48 reporting.

Easy-to-read Reports

After you’ve calculated the bottom line in interest and penalties, all your calculations are presented on professional and easy-to-read reports to document your work. These reports are perfect to send to the IRS. You can also use these comprehensive reports to document your work.

Try TaxInterest risk-free

TaxInterest comes with TimeValue Software's one year money-back guarantee. Your initial purchase includes one year of quarterly interest rate and program updates. Additional updates are renewable annually.

System requirements:

Windows Vista, XP, 2003, 2000, NT, Me, and 98.

Related products from TimeValue Software

File In Time™ will help you manage your workload and track your tasks. Produce workload reports for staff and assure that nothing slips through the cracks.

<< Back