How did the Department of Revenue calculate the interest on the Notice of Preliminary Assessment and Notice of Final Assessment?
Interest is added to any tax or other amount due the Department which is not paid by the due date. Interest on any delinquency shall be charged from the due date of the tax. The interest is computed based on the underpayment rate established by the Secretary of the Treasury under the authority of 26 USC 6621.
Related Questions
- I understand that carrying out a preliminary assessment is a key part of my Responsible Lending obligations. What is the difference between this and a final assessment?
- How did the Department of Revenue calculate the interest on the Notice of Preliminary Assessment and Notice of Final Assessment?
- Where do I get the preliminary and final assessment forms?
