News Letter 17

News Letter 17 - September 2000

IRS National Office Site License Now Void

We signed a site license in May, 2000, to grant the IRS a national site license to allow all IRS employees to use Inter-Est 3.00. This site license has become void because of nonperformance (We were never paid.). I don't believe the IRS National Office (Exam) has ever figured out how to test or distrubute the program or its updates. We will try to go back to the distribution methods we have used in the past in an effort to get updates to our IRS users in a reasonable amount of time.

Users Groups for IRS Employees

If an IRS office had a local site license from us, we will allow the IRS employees at that office to form a Users Group to continue the site license under the same terms as those provided to the IRS or any earlier users group. You can run the programs at the office if kyou are allowed to load it on your official IRS computer. Otherwisse, you will have to run it on your home computer.

Special Offer to IRS Appeals Employees

The Nation Office of Appealse has a separate site license which is valid. If you are an employee of the Appeals Division and want to use Inter-Est 3.00 at home, we will send you a CD-R with the program and manual on it for $10.00. This will allow you to use Inter-Est at home to proctice or work on your cases. If approved you can also use the CD-R to lupdate your office computer.

Districts become Areas

This fall we are going to modify the forms we support to allow for the change from districts to Areas. If kyou are using a current version of Inter-Est, RAR or GRAR and uun into a problem related to this changeover, please call me and let us know about your problem. We will try to get everthing worked out by the end of the year. I don't believe anyone will worry about the exact format for a little while and we should have a few months to get it right.

Format Change

By the end of the year, we plan to start shipping Inter-Est on a CD-R instead of using the 3 1/2" floppies we have used in the past. This will allow us to include additional files and reduce disk problems. We will still ship using 3 1/2" floppies on request.

Computation Price Increase

We are increasing our price for basic computations from $100 to $200 as of Octover 1, 2000. We plan to phase out these computations over the next several years. This price increase should encourge you to learn to use Inter-Est.

Inflation Rate for 2001

We are sorry, but we have not yeat received the infation adjustment to b e used by the IRS for the year 2001. As soon as we compute the correct factor, we will post it in the What's New page on our Web Site.

Federal Interest Rate Change

Remember to keep your interest tables current. The federal rate changed to 9% for both decifiencies and refunds on 4/1/00. It will remain at 9% through the end of 2000.

Web Site and eMail Address

Visit 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:
www.inter-est.com.

Our Email address is:
cammack@inter-est.com.

Current Changes since the last Newsletter

The current release of Version 3 is 59. Major changes made since the last newsletter were:

Some of the tax rates for Maryland were changed as of 7/1/99. Inter-Est has been modified to reflect these changes.

North Carolina computation was adjusted. The Class A tax credit was wrong for dates of death after 1996.

Support for the interest free refunds under Sec. 6611(e)1, 6611(e)2 and 8811(e)3 has been added. At present only one interest free refund of each type is allowed..

The was foreigh death tax credit is adjusted for charitable bequest or marital bequest from residue has be adjusted. The computation of Factor G from the regulations was not correct. This has been corrected.

.An adjustment was made so inter-Est can now handle larger estates. The old limit was $9,999,999,999.99. The new limit is $999,999,999,999.00. When the amount is over the old limit, Inter-Est automacally changes to compute to the nearest dollar.

An error was found in the computation of interest on penalties where there was a Sec. 6166 election. This has been corrected.

Estate Tax Report -- An error was found where there was a family owned business deduction. The unified credit was computed incorrectly. This has been corrected.

Gift Tax Report -- An error was found in the way prior UC and corrected prior taxable gifts were computed for periods after the first period. This has been corrected.

.Estate Tax Report & Gift Tax Report -- In addition to the above changes a number of changes were made to the format and forms for these new report writers. This will be an ongoing problem as the IRS will probably be changing the supprted forms a lot to support their reorganization.

Maintenance and Support

If you are having trouble with a computation using Inter-Est, please call us. We provide support to all of our users.

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Cecil Cammack, Jr. dba
Cammack Computations Co.
P. O. Box 725, Cleburne, TX 76033
Voice: 1 (800) 594-5826
Email: cammack@inter-est.com
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