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Some tax jurisdictions have special rules beyond normal interest calculations which affect the calculation of interest on overpayments and/or underpayments. In some cases Instant Interest prompts you for additional information needed to calculate the interest schedule. The following situations have special handling which either requires additional input or calculates interest in an unusual manner:
Federal - Tax-motivated underpayments
California, Federal, and Virginia - Large underpayments ("Hot interest")
Federal, Alabama, Arizona, and Virginia - Large corporate overpayments
Alaska - Oil and Gas Production
Colorado - Discount for early payment
Delaware - Delayed interest accrual on refunds
Florida, New York City and Utah - Interest rate fixed based on Due Date
Illinois - Lower interest rate for first year
Iowa - Rounded monthly rate
Massachusetts - Simple Interest on Refunds
Missouri - Refunds for amended returns
New Jersey - Lower interest on extensions granted or discretionary reductions
Oregon - Additional 4% for Delinquencies after 60 Days
Oregon - Interest Rounding and Effective Dates after July 1, 2003
Tennessee - Interest rate fixed based on Assessment Date
Texas - 60 day grace period
Texas - Change in Refund Rate
Texas - Tax Due Dates
Option to apply payments to interest or principal
52-53 Week Taxpayer
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