Category Archives: Release Notes

Instant Interest Release Notes Version 20.4.0.0

The only change effective October 1, 2020, is the Missouri refund rate, which dropped from 1.90% to 1.80%.

Three changes effective January 1, 2021, were implemented:

  • Idaho will reduce its rate from 4.00% to 2.00% for both overpayments and underpayments.
  • Kentucky will reduce its rate from 7.00% to 5.00% for underpayments and from 3.00% to 1.00% for overpayments.
  • New Hampshire will reduce its rate from 7.00% to 5.00% for underpayments and from 4.00% to 2.00% for overpayments. Continue reading →

Instant Interest Release Notes Version 20.3.0.0

Third quarter rate changes were made in the 20.2.0.2 release, which was available to customers enrolled in the online update program. The following changes are implemented in this release:

  • An exception was created so that the extension of the due date to July 15, 2020, for taxes due between April 15 and July 14, 2020, does not apply to taxes on Alaska Oil and Gas production revenues.
  • A future change was entered for a change announced by the State of Colorado effective January 1, 2021, from 9.00% to 6.00% for both overpayments and underpayments
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Instant Interest Release Notes Version 20.2.0.2

This is an interim release. It updates rates that were published prior to June 30, 2020. It does not take the place of the third quarter release (20.3.0.0). It reflects the following rate changes effective July 1, 2020:

  • Alabama changed from 5.00% to 3.00% for both underpayments and overpayments.
  • Arizona changed from 5.00% to 3.00% for both underpayments and overpayments.
  • Federal changed from 5.00% to 3.00% for underpayments and 4.00% to 2.00% for overpayments. Continue reading →

Instant Interest Release Notes Version 20.2.0.1

This release implements payment due date extensions that various tax jurisdictions have granted in response to the coronavirus/COVID-19 pandemic. Most tax jurisdictions have granted extensions for payment of taxes due in certain date ranges in 2020. With the 20.2.0.1, the following extensions have been implemented: Continue reading →

Instant Interest Release Notes Version 20.2.0.0

This release reflects the following rate changes effective April 1, 2020:

  • Alaska changed from 7.50% to 5.50% for both underpayments and overpayments.
  • Missouri’s rate for overpayments changed from 2.10% to 2.00% effective April 1, 2020; the rate for underpayments remained unchanged at 5.00%.

The release also includes a change to California‘s rate for underpayments from 6.00% to 5.00% retroactive to January 1, 2020. That change had not yet been published when the 20.1.0.0 release was created. The rate for overpayments remained unchanged at 2.00%. Continue reading →

Instant Interest Release Notes Version 19.4.0.0

This release reflects the following rate changes effective October 1, 2019:

  • Alaska changed from 8.25% to 7.75% for both underpayments and overpayments.
  • The refund rate for Missouri overpayments changed from 1.9% to 2.0%; the underpayment rate remained unchanged at 5.00%.
  • The refund rate for Rhode Island overpayments changed from 5.50% to 5.00%; the underpayment rate remained unchanged at 18.00%.

Continue reading →