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News Letter 16 - November 1999Federal Estate Tax Laws Unchanged (so far)Congress sent the Taxpayer Refund and Relief Bill of 1999 to the President. It would have repealled the federal estate tax amount other changes. The President vetoed this bill on Sept. 24, 1999. It look as if the current law will remain in effect for a while. Support for Old ProgramsWe have decided to drop support for Inter-Est Ver. 2.00 for DIS next year. We are considering dropping support for Windows 3.1 and concentrating our efforts on Windows 95, Windows 98 and Windows NT. Support for the commercial version of RAR and GRAR for DOS will be dropped because new provisions in Inter-Est 3.00 should replace them satisfactorily. The version of GRAR and RAR for DOS supplied to the IRS will be supported a while longer because they supply features that are not yet supported by Inter-Est 3.0. New Prepare File FormatWe have rewritten the forms and computations used with prepare files. These files were used to make simple computations that duplicate the computation and format of the Federal Estate Tax Return, Form 8706. This has been changed. These files not support the computation and reports used by IRS Estate Tax Attorneys (Form 1272, etc.) when they write their reports. Prepare files can be used to prepare date for use by Case files as in the past, but now the output is in an audit report format. This change was made to gift the IRS Estate Tax Attorneys another alternative when they write their report of estate tax audits. New Gift File FormatWe have rewritten the forms and computations used with gift files. These files were used to make simple computations that duplicate the computation and format of the Federal Gift Tax Return, Form 709. This has been changed. These files notw support the computation and reports used by IRS Estate Tax Attorneys (Form 3233, etc.) when they write their reports. The new output is in an audit report format. This change was made to gife the IRS Estate Tax Attorneys another alternative when they write their repor of gift tax audits. Federal Interest Rate ChangeRemember to keep your interest tables current. The federal rate changed to 7% for both decifiencies and refunds on 1/1/99. It then went to 8% on 4/1/99 and will remain at 8% through the end of the year. Prior to 1/1/99 the interest rate for refunds was 1% below the interest rate for deficiencies. After 12/31/98 the rate for both deficiencies and refunds are the same. Web Site and eMail AddressVisit our Web Site. You can review current changes to Inter-Est by checking the "What's New" page. Check it out. The web site is at: Our Email address is: Inflation Adjustment for the Year 2000For the year 1999 we used an inflation factor of 101.67%. This was not an exact factor, but it gave the correct adjustment. For the year 2000 we have inserted an inflation factor of 103.41%. This is not an exact factor either, but it will give the correct inflation adjustment. You can change the inflation adjustment by going to Options|Inflation Factors on the menu. New releases of Inter-Est will have these factors built in, but you can override them if necessary. Y2K Problem with RAR & GRARThe DOS version of RAR and GRAR were found to have a problem related to Y2K. The date February 29, 2000, could not be inout. This was a simple input problem and did not affect any computations. This has been corrected. The corrected versions of these programs are RAR Ver. 3.00, Release 7 and GRAR Ver. 3.00, Release 6. If you need to input this date and have not already received a corrected version call and we can get you a corrected copy of these programs. Current Changes since the last NewsletterThe current release of Version 3 is 49 and the current release of Version 2 is 66. Major changes made since the last newsletter were:
Maintenance and SupportIf you are having trouble with a computation using Inter-Est, please call us. We provide support to all of our users.Previous NewsLetter Next News Letter Home Page Top of Page
Cammack Computations Co. P. O. Box 725, Cleburne, TX 76033 Voice: 1 (800) 594-5826 Email: cammack@inter-est.com Price Information |
