Talk:WI - Underpayment Interest Rates
From TaxAlmanac
The figures listed in the program and on Tax Almanac are not consistent nor accurate. For over the last 25 years the rates have always been consistent:
Underpayment Interest: 12% Delinquent Interest: 18%
Please correct your posted rates, or explain what you have done differently each year to cause the change in reported figures to cause the switch between Underpayment and Delinquent Interest rates!
Thank you very much!
TaxBurner
WI Underpayment Interest Rates
Thank you for introducing this topic. When the tables for state underpayment interest rates were originally added, the intent was to provide tax preparers up-to-date interest rates for calculating interest on late payments. Several factors contribute to the lack of consistency. Going forward we have a couple of options. We can add an additional table for the delinquent rates and correct the underpayment interest rates. Alternatively, we can change the table header (pending engineering review) to "Delinquent Interest Rates" or simply add an explanation. Please let me know how you use this table and your thoughts on the proposals.
Thank you
Chuck Jackson