Only one rate change went into effect on April 1, 2024. The Missouri refund rate changed from 2.70% to 3.00%; the underpayment rate remained unchanged at 5.00%.
This release also includes a rate change for underpayments effective July 1, 2024, for California from 7.00% to 8.00%; the refund rate will remain unchanged at 5.00%.
The following rate changes became effective January 1, 2024. As noted with release 24.1.0.0, not all jurisdictions had published their rates for the first quarter of 2024 when that release was posted on January 2, 2024. The following changes have been added:
In addition, programs change were made to accommodate four decimal places for the new Maryland rate of 10.0075% for both overpayments and underpayments.
The following rate changes became effective January 1, 2024 (NOTE: As of January 2, 2024, the date of this release, Alaska, Pennsylvania, and Texas had not yet published their rates for the first quarter of 2024; these may become available in an interim release later in the month):
The following rate changes are effective October 1, 2023:
The following rate changes will become effective January 1, 2024:
This release corrects a problem with the rates for the state of California. Here is a brief explanation:
Because we followed the April 18 posting, the 23.3.0.0 version deleted the change effective January 1. That change has been reinstated. In addition, the July 28 change was posted after the 23.3.0.0 version was created; that change has been added to this version.
The following rate changes are effective July 1, 2023:
The following changes are retroactively effective as of April 1, 2023:
The following changes are retroactively effective as of January 1, 2023:
There are no rate changes in this release. See the release notes for version 23.2.0.0 for the 2nd quarter 2023 rate changes.
This version greatly expands the tax relief extension table. The previous version was created to accommodate tax deadline extensions for COVID-19. This version includes federal tax relief deadline extensions dating back to 2018 for various natural disasters (see the IRS page “Tax Relief in Disaster Situations“). We will continue to expand this table to include tax relief deadline extensions granted by other jurisdictions at well.
In most cases (COVID-19 being the main exception), the extension is based on what state and county the taxpayer is based in. The initial check for eligibility for the extension depends on selecting your state from the Taxpayer State pulldown. In many cases whether the extension is granted depends on what county your business is based in. However, we do not track the extensions down to that level. When we determine that you may be eligible for an extension based on your home state, we give you the official URL that outlines eligibility for the extension so that you can determine whether or not to apply it in your case.
Effective April 1, 2023, Missouri changed its refund rate from 0.8% to 1.3%; the underpayment rate remained at 6.0%.
The following rates were effective January 1, 2023:
The following changes were received after the release of version 23.1.0.0:
We added a change to the rate for underpayments for Pennsylvania from 1.0% to 5.0% effective January 1, 2023. That change is based on language in Section 806.1(b.1) of the Pennsylvania Fiscal Code, which states that the rate on refunds will be 2 percentage points less than the rate on underpayments. The rate on underpayments was changed from 3.0% to 7.0% in the 23.1.0.0 release of Instant Interest.
The following changes were made in this release effective January 1, 2023:
Information was not available for Georgia or Kansas, which may necessitate an interim release.
The following changes were made in the 22.4.0.0 versions effective January 1, 2023:
The following retroactive changes were made effective November 1, 2022:
Louisiana equalized the rate for underpayments and overpayments at 6.5% effective January 1, 2022.