Tax and Interest Software
InterestNet - Interest and Penalty Software
DMI's flagship interest and penalty software InterestNet™ is a single product solution for interest calculations on federal IRS and state tax underpayments and overpayments. InterestNet™ is the industry standard interest and penalty computation software and accurately computes global interest netting benefit per Section 6621(d). The user-friendly interface allows for easy entry of transcript detail while providing the flexibility to perform restricted interest computations, evaluate alternative interest results for hypothetical events, and perform "what if?" scenario development.
The IRS uses InterestNet™ to perform net rate interest netting computations, per IRM 22.214.171.124. Be confident your interest results are accurate with InterestNet™.
Key Features of our InterestNet interest and penalty software:
- User-friendly interface for entry of Federal IRS transcript and States tax data
- Incorporate restricted interest computations and interest suspension periods
- “What if?” scenario development with flexible alternate interest computations
- Large Corporate “Hot” interest and GATT interest
- Interest rates updated each quarter automatically
- Accurate and optimal global interest netting computations
- Summary reports for evaluating multi-tax period analysis on a single page
- Detailed reporting to support every facet of the interest and penalty calculations
- Reports to support IRS Form 843 claim filing
- Penalty calculations (additional licensing fees may apply for FTD 941, 943 and 945 )