Iowa Admin. Code r. 701-601.6
Current through Register Vol. 47, No. 13, December 25, 2024
Rule 701-601.6 - Refunds and overpayments(9)For refund claims received by the department after June 11, 1984. If the amount of tax is reduced as a result of a net operating loss or net capital loss, interest shall accrue on the refund resulting from the loss carryback beginning on the date a claim for refund or amended return carrying back the net operating loss or net capital loss is filed with the department or the first day of the second calendar month following the actual payment date, whichever is later.(11)Interest commencing on or after January 1, 1982. See rule 701-10.2 (421) regarding the rate of interest charged by the department on delinquent taxes and the rate paid by the department on refunds commencing on or after January 1, 1982.(13)Overpayment-interest accruing on overpayments resulting from returns due on or after April 30, 1981. If the amount of tax determined to be due by the department is less than the amount paid, the excess to be refunded will accrue interest from the first day of the second calendar month following the date of payment or the date the return was due to be filed or was filed, whichever is the later.Iowa Admin. Code r. 701-601.6
Editorial change: IAC Supplement 11/2/22