Designed for Easy Integration into Your Cloud-based or Desktop Application

Whether you are tracking FIN 48 positions in Excel or Access or have developed a full-fledged tax preparation application, the TaxInterest Engine™ SDK lets you incorporate accurate calculations for interest accruals or interest and penalty calculations.

The TaxInterest Engine SDK is available as a cloud-based web service or a simple ActiveX (COM) DLL depending on your deployment needs.

  • As a SOAP Web Service, the TaxInterest Engine Web Service is hosted by TimeValue Software™ and is updated regularly with additional functionality
  • As a Java wrapper around the SOAP Web Service, the TaxInterest Engine Web Service is hosted by TimeValue Software and is updated regularly with additional functionality
  • As an ActiveX (COM) DLL, you can integrate the TaxInterest Engine into your own web service according to your needs. The TaxInterest Engine SDK is written in ATL C++ for lightning fast coding. It can be used in virtually any Windows programming environment, including Visual Basic, VB Script, C++, FoxPro, ASP, Java, JavaScript, PowerBuilder, and more

Summary of Capabilities

Interest Calculations

  • Federal (IRS) interest - Calculate underpayment and overpayment (refund) interest for individuals and corporations with built-in historical interest rates and methods dating from 1954
  • State interest - Calculate underpayment and overpayment interest for all states with built-in historical interest rates and methods
  • International jurisdictions provided for select countries
  • Large Corporate underpayment (Hot Interest) - Determine interest on amounts in excess of $100,000 under IRC section 6621(c)
  • GATT interest - Incorporate GATT refund interest calculations
  • Interest on penalties - Automatically calculate interest accruals on penalties, and specify notice dates to check IRS calculations
  • Motivated interest - Designated higher rates for substantial underpayments on returns due prior to 1990 (tax motivated transactions)
  • Calculate Section 6603 interest on interest bearing deposits

Computation Methods

  • Daily
  • Monthly
  • Simple
  • Old IRS Method

Utilize Various Event Types to Structure Your Calculations

  • Tax
  • Payment
  • Deposit as a Bond
  • Interest Suspension
  • Refund
  • Entered Penalty

Calculate Federal Penalties

  • Failure to File Penalty - §6651(a)(1)
  • Failure to Pay Penalty - §6651(a)(2)
  • Failure to Pay Assessment Penalty - §6651(a)(3)
  • Negligence - §6662(c)
  • Substantial Understatement of Income Tax - §6662(d)
  • Substantial Valuation Misstatement - §6662(e)
  • Substantial Overstatement of Pension Liabilities - §6662(f)
  • Valuation Understatement - §6662(g)
  • Fraud - §6663

Interest Rates Maintained

The rates and methods for interest calculations are built-in and updated regularly to assure that the TaxInterest Engine is always up-to-date with the most current rates for your calculation needs within the application. Additional functionality and features are also added regularly.

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TaxInterest Engine Contact Us

Call TimeValue Software for information on custom license agreements at 1-949-727-1800 or 1-800-426-4741 (within USA).

  
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