What's New
This series of notes is offered to show the recent changes to
Inter-Est Version 3.00 for Windows. At present this is just a list of changes to
Version 3.00 of Inter-Est since it was a working program.
NOTE: The most recent infomation is positioned first. If you see a contradiction,
use the lastest information.
2/22/2008 Release 123f
There was an output error for Form 3228 where there was a State Death TAx Deduction.
This has been corrected. The error did not affect the actual computation.
10/18/2007 Release 123e
Correction to Connecticut computation for dates after the middle of 2004. Further
corrections to allowance for federal marital or charitable deductions. This has been
corrected.
5/10/2007 Release 123d
Correction to Connecticut computation for dates after the middle of 2004. I did not
correctly allow for federal marital or charitable deductions. This has been corrected.
5/2/2007 Release 123c
Correction made to the computation of New York tax after 2000 when there is 2044
property. We corrected to computation of the percent of Line 5. We had divided by the
federal gross estate for New York purposes for the main computation instead of for the
2044 computation. This has been corrected.
2/14/2007 Release 123b
Change made in the computation of the allocation of the Federal State Death Tax Credit
between New Yo0rk and another state. This change was made to reflect a creceint
decision of the New York State Court.
Change made to the computation of Connecticut estate tax for dates of death after the
middle of 2004. Please let us know if this routine is not satisfactory.
1/1/2007
Inflation factor for 2007 added. It is 125.67%. If you don't like this
factor you can just over write it.
9/28/2006 Release 122
Two changes made to the computation of tax where the decedent is a non-resident alien.
Tax tables changed to standard tables after 2003 and The print-out on Form 10-141-B were
changed to make the correct taxable estate print out. if you have any problems in this
area contact us.
7/7/2006 Release 121
An error was found in the worksheet for the qualified conservation easement exclusion
in our ET Report Writer. An error could creep into lines 17, 18, and 19 when the option to
round to the nearest dollar was selected. This has been corrected. If you have this
problem before you update to Release 121 you just need to round to the nearest penny to
get the correct answer.
6/20/2006 Federal Interest Rate
As of 7/1/2006 the interest rate for federal interest computations went up 1% to 8% per
anum.
6/9/2006 Release 120
An option was added to allow a modification of the denominator used in the COMPLEX
Computations. Select the new option to reduce the computed denominator by the computed
State Death Tax Deduction. This is necessary in New York and some other states.
4/27/2006 Release 119
An option was added to the computation of State Tax when "SDTC,All" or
"SDTC,Part" are selected for dates of death from 2005 to 2009. The standard
computation does not reduce the computed taxable estate by the State Death Tax Deduction.
The new option allows you to do this. This is to support the Illinois position on this
computation.
2/1/2006 Release 118a
One of our recent modifications changed the way the Claim Forms Waivers printed out. A
small change as been made to the printout for Forms 2297 and 3363 to correct this
problems. This problem has been fixed.
1/19/2006 Release 118
An error was found in the printout of Release 117 when an old file was opened. Form
6180 and Form 3228 would not print the correct taxable estate at the bottom of the form
unless the tax was recomputed. This has been corrected.
1/3/2006
Inflation factor for 2005 changes from 117.17% to 117.00%. This was done at the
request of a user you found the factor I used generated a wrong amount for the 6166 2%
amount. I you find any other problems, please contact us. If our infation
factor is wrong, remember that you can input your own inflation factor.
12/15/2005 Release 117
Several changes were made to support the State Death Tax Deduction that will be
available aft3er 2004 and before 2010. A fixed amount can be entered that will be used to
reduce the taxable estate. A change can be input in the ET Report Writer in the
General|General dialog box. Interrelated computations already support the computation of
the State Death Tax Deduction. In addition we have provided for the input of a fixed
amount that will be used in addition to the computed state tax. This is input on the
General|General dialog box of the Case file input.
We have inserted a inflation factor for 2006 in the amount of 120.7%. If this is not
satisfactory you can override it.
10/10/2005 Release 116
A new option has be added so you can reduce residue by the computed interest without
using the Complex Option. A new flag has been added to the residue section. It is
initially set the the value set in another new flag in the Options section which sets the
default value of this flag.
1/13/2005
A copy of Inter-Est has been posted to this site where it can be downloaded free.
If you need an update or want to try Inter-Est just download the program and manual
and try it out.
Download Current Release EST300.zip
(Last Update 1/13/05)
Download Current Manual MANUAL.zip
(Last Update 1/13/05)
If you do not have a program to unzip this file you can go to WinZip.com to get a copy of WinZip.
Once you have dounloaded the file Tables.zip you should unzip it to get the the
install program Tables.exe. Just run Tables.exe and follow the instructions.
You should load the new interest tables over you old tables. The install program
will make a backup copy of your old interest tables if you desire.
12/15/2004 Release 115
A default inflation factor of 117.17% has been entered for the year 2005.
If this inflation factor is not satisfactory to you, you can change it to something else.
The Federal interest rate on deficiencies and refunds for the first quarter of 2005 is
not changed.
12/3/2004 Release 114
An error was found in the computation of Indiana Taxes for Class A where the taxable
amount was over $1,500,000. This has been corrected.
11/29/2004
Newsletter sent out to announce my Retirement after January, 2005. At that time
we will post a copy of Inter-Est on this web site so that it can be
down-laoded at no charge. At that time we will stop selling Inter-Est.
10/14/2004 Release 113c
Change made for Release 113 and Release 113b modified. Now supports both
"Director, Specialty Programs" and "Supervisory Attorney, Estate Tax."
for signer of letters.
10/14/2004 Release 113b
The change made for Release 113 was adjusted to change the new option to
"Supervisory Attorney". This is based upon a new IRS memo.
9/24/2004 Release 113
Change make to ET REport Writer. Added option to have form letters signed by the
"Director of Specialty Tax".
6/21/2004 Release 112
Change make to computation of Connecticut estate tax for the last half
of 2004. This temporary tax is based upon 130% of the federal SDTC under pre-2002 law.
Call if you have any problems with the routine.
6/1/2004 Release 111
Change make to computation of New York tax for years after 2000.
Change made where out of state property, Sec. 2044 property and/or the decedent is a
non-resident. If you have a problem in this area contact us.
4/15/2004 Release 110
Change make to computation of Pennsylvania tax after June 30, 2002.
Pennsylvania decoupled their pick-up tax and the changed back to following the federal
SDTC to compute their pick-up tax. I had failed to make the second change. This has been
corrected.
4/8/2004 Release 109
Change made to the computation of Maryland tax after June, 2000.
Only the Collateral Class remains taxable for the inheritance tax.
4/2/2004 Release 108
Three changes made to the computation of New York tax for years after
2000. Provision was made for the family owned business deductions for years after 2003.
Provision was also made for the input of a separate state number for the aggregate gift
taxes paid. The third change was to correct the federal tax table used.
The change made for the input of a separate state number for the aggregate gift taxes paid
was also made for computations using the "State Death Tax Credit, All" and the
"State Death Tax Credit, Part" provisions.
Contact us if you have any problems with these state computations.
2/17/2004 Release 107
Additional option added where State Tax is computed using "SDTC, All" or
"SDTC, Part". You can now use the current Unified Credit Table to use when you
elect to use the Pre-2002 State Death Tax Credit option. This change supports some of the
changes to State Tax computation in several states.
12/30/2003
Input screen in Gift Tax Report Writer changed to correct error. Input referred to Gift
Tax Records when it should have referred to Income Tax Records. The output has not been
changed.
12/5/2003 Release 106
Tax tables for Connecticut changed for dates of death after February,
2003. This change is based upon new legislation as described by Connecticut in
Special Notice 2003(13). If you have any problems or questions about these changes
contact us.
11/13/2003
When "Printing to ASCII" om tje Verbpse Mode, the Case File did not print out
the computed interest factors in the detailed interest factor output. This has been
corrected.
10/9/2003
Default inflation factor inserted for year 2004 in the amount of 114.33%. This
makes the amount used to determine the 2-percent portion of deferred estate taxes for 2004
$1,140,000. If this inflation factor is not satisfactory for you you can override
it.
10/2/2003 Release 105
An error was found in our computation of Form 4349 in the ET Report Writer. If in input
selection to the limitation to the estate tax election selected was not "None",
the computation used the wrong option. If you selected "Fixed dollar limit" the
form used a limit to the tax not paid and if you selected the "Limit to tax not
paid" the form used the used the fixed dollar limit. This has been corrected.
9/24/2003 Release 104
An error was found in our computation of the 2nd limitation of the credit for tax on
prior transfers. The error would occur where there is a charitable deduct and a deduction
for a qualified family owned business deduction. The charitable deduction proportion was
computed using the QFOBI deduction in addition to JK&L. This has been corrected.
A related problem might arise as to the deduction for state death taxes which become
available in 2005. Our interrelated computations (Case filles) treats this deduction the
same as the QFOBI in computing the 2nd limitation of the credit on prior transfers, but
the ET Report Writer dies not break out this deduction as a separate deduction. We will so
something to correct this in the future. A potential problems also exists for the
computation of the foreign death tax credit for the purpose of computing the 2nd
limitation of the credit for prior transfers. We will also look into this. If you have any
suggestions, contact us.
9/23/2003
The Form 890, Waiver, for the ET Report Writer has been changed so that the lines for
the Unified Credit in Part 2 and Marital Deduction in Part 3 are left blank instead of
having zeros inserted. This is to allow easier modification where necessary.
7/30/2003 Release 103
An error was found in our computation if Indiana state tax. We
had failed to adjuste the exemption for Class A when the law was changed as of 7/1/97.
This has been corrected.
7/22/2003 Release 102
An additional option was added to allow a four line free form signature block for the
old Closing Letter, L-627. Also added was an option to the default settings for the
Estate Tax Report Writer to allow a defualt election to be made.
7/10/2003 Release 101
Nebraska has changed its tax table effective July 1, 2003. We
have inserted the new Nebraska tax table. The new trable and its application seem a
little odd, so if you have any problems, please contact us.
An error has been discovered in the computation of interest where there is a Sec. 6166
election and the estate electes to extend the maximum amount qualified on a protective
election. This error appeared in an estate where an additional election was made not
to prorate the first payment per Sec. 6601(j)(3). The amount of tax that qualified
for the low interest rate (either 4% or 2%) was not correctly rfeduced where the tax for
an installment was prepaid. This error has been corrected.
6/23/2003
A problem has been noted in compputing tax for more than one state after the year 2000.
Where one state uses the old SDTC table and the second state uses the new SDTC
table the proration of the credit between the states might not be correct. We are
working to give you an option to compute this in more than one way. If you have this
problem call and we will try to help.
5/13/2003 Release 100
An error was found in compuation of the credit on prior transfers where the Net
Transfer (Line 7 on the Worksheet for Sch. Q) exceeds the computed gross estate. The
error was in the interrelated computations (case files), not in the Estate Tax Report
Writer. This has been corrected.
4/10/2003 Release 99
An error was found in the Gift Tax Report Writer. The Unified Credit for Prior
Periods was incorrect for periods after the first entered period where there was an
adjustment to the unified credit. This has been corrected.
3/26/2003 Release 98
An additional option has been added for the form closing letters in the Estate Tax
Report Writer. Yu can now place the names of the person signing the closing letter
at the botton of the form 627 closing letter. This can also be done with the new
Form 627 closing document. Leave this item blank if kyou do not need this feature.
You can also set up a default name to use for newly created files.
3/12/2003 Release 97
The Edit Box used to iput dates has been modified to make data entry easier. This
new method complies with Y2K requirements. The new input method is based upon
Microsoft code and only input routines are changed. No compute or output routines
are changed.
3/3/2003
The tax table in two of the templates were corrected.
2/14/2003 Release 96
Added additional input items to the Initial ET Report Settings dialog box. This
will store the name of the user and return address information to be inserted into newly
created ET Report files and GT Report files.
2/12/2003 Release 95
An additional option has been added where "SDTC,All" or "SDTC,Part"
method is selected. You can now elect to use the federal unified credit for the
current year using the old tables effective prior to 2002.
1/5/2003
Changed the footer for Form 627, Closing Letter, to reflect the revision date of 8-1986
12/26/2002 Release 94
Changes have been made in the computation of State tax after 2004 and before 2010 where
"SDTC, All", "SDTC, Part", or the "New York" method is
selected. We were using the federal taxable estate without adjustments to compute
the State tax where the State specifiec a tax based upon the federal SDTC using a version
of the Interanl Revenue Code prior to 2001. We have corrected this and now back out
the Sec. 2058 deduction for State Death Taxes. This error was brought to our
attention by Rev. Rul. 2002-86. Inter-Est now assumes that the Victims of Terrism
Tax Relief Act of 2001 does not apply to the State computation. If this assumption
is not correct for your State, please let us know.
12/20/2002 Release 93
Support for the New York family owned business deduction is added for estates with a
date of death in 1998 and 1999. This support is limited to a carry over of the
federal Sch. T amount to the state computation. If yu need additional support,
please contact us.
12/3/2002 Release 92
The column headings for the amount of the claim allowed and the amount of the claim
disallowed on Form 3363 in the Gift Tax Report Writer was reversed. This has been
corrected.
11/25/2002 Release 91
An error was found in the printout for the GT Report Writer. When you used a
worksheet to compute the "taxable gifts for prior periods" and the "unified
credit for prior periods" the date of the prior periods was not printed out on the
worksheet where it belonged. Instead the date of the period under audit was printed
out for each of the prior periods in the worksheet. This has been corrected.
11/1/2002 Release 90
Additional letter supported inthe ET Report Writer. This is the Estate Tax
Closing Document (Letter 627 (Rev. 8/02)) which is shown in Form 706. The old Letter
627, Closing Letter is not removed at this time giving you a choice of forms.
10/21/2002
Default inflation factor inserted for year 2003 in the amount of 112.5%. This
makes the GST exemption for 2003 $1,120,000. If this inflation factor is not
satisfactory for you you can override it.
9/27/2002 Release 89
The Pennsylvania pickup tax (additional estate tax) was changed for
dates fo death after June 20, 2002. For these estates it now computes the pickup tax
based upon federal law in effect for 2001. This will allow Pennsylvania to avoid the
phase out of the federal state death tax credit.
9/13/2002 Release 88
The change to New York estate tax computations after January 2000 made
with Release 83 did not properly take into consideration the marital deduction and
charitable deduction. This has been corrected. If you have any problems with
the computation of New York tax or the tax on other states, call us.
9/6/2002 Release 87
The computation of the unified credit for New York between 1990 and
2000 has been changed for small estates where there is property located outside New
York. The computation of this credit is based upon the tax computed on all property
instead of just the tax on the New York property;. If this change gives you any
problems, call us.
8/22/2002 Release 86
An additional method of computing interest has been added. For Arizona
computations, we have added a method to compute interest compounded annually at the end of
each calendar year. When this method is used you must enter dummy interest periods
for each 12/31 date that falls within your interest periods. This is to give a place
marker to start comp0ounding the accrued interest at the end of each year.
An error in the interest table test dialog box was fixed. This feature does not
work correctly with annual compounding because it does not insert the required dummy
periods on each 12/31 date in your interest period.
8/6/2002
Some users have had a hard time reading input data in some of the dialog boxes.
To reduce this problem we have increased the size of all dialog boxes and used a 10 point
font instead of an 8 point font. This should help users read the dialog box
contents. We have also changed numeric input from left justified to right justified.
This should also aid input some.
7/29/2002
In the input section for returned items for a gift tax report, an input item for prior
assessed tax and penalty appeared when it whould not. The data is only used when the
Appeals Report Format is selected. This has been corrected so the input item is only
available when the Appeals Report Format is selected.
7/3/2002 Release 85
Change made to support the Kansas supplemental inheritance tax that is
effective as of dates of death on or after July 1, 2002. This tax will be in
addition to the Kansas pickup tax.
Change made to the way the election to luse the Pre-2002 federal table to compute the
state death taxes using the "SDTC, All" or "SDTC, Part" options.
When this option is selected, you are now given a selection of the Unified Credit
Table to use to compute the state tax. Select the 2002 table for a New York
computation and the 1987-1997 table for Washington DC. This option should allow this
feature to be used for more states as the states change their tax in reaction to the 2001
federal law change.
6/18/2002 Release 84
This change is made to support the computation of the Nebraska estate
tax for dates of death after December 2002. This routine is very simple. If
you have any problems or questions, please call.
6/17/2002 Release 83
Two changes have been made to the computation of State Death Taxes.
When an election is made to use the Pre-2002 federal table to compute the state death
taxes using the SDTC, All or SDTC, Part options, the
lower limit to the tax will now be based upon the Pre-2003 unified credit table.
This conforms to the requirements of New York. If you have any problems, please call
me.
An additional option has been added to the computation of the New York
estate tax after January 2000. This feature follows New York Form ET-706. The
provision for the Sec. 2207A right of reimbursement where there is Sec. 2044 property is
my best guess, and might need a few changes. If you have any suggestions, please
call me.
5/29/2002 Release 82
Added Feature: The computed state death tax is used for the State Death Tax
Deduction under section 2058 instead of as a credit under section 2011 for dates of death
between 2004 and 2010. The feature for a limit to the state death tax dredit is also
changed to a limit to the state death tax deduction for this time period. This
should provide a basic ability to complete simple interrelated state death tax deductions
for dates of death after 2004. If you have any questions or problems please call.
2/15/2002 Release 81
The option added in Release 80 was restricted to apply only to the first payment.
This is to support specific settlement purposes.
2/12/2002 Release 80
An additional option has been added to the federal Sec. 6166 election. When you
select the election to extend the maximum amount qualified (protective election) you are
now given an additional option to not prorate the payments with the return under Sec.
6601(j)(3). While this proration is required under the Code, for settlement purposes
we provide that the advance payment of installment made with the return can be applied to
the amount drawing the higher rate first. Only use this option if you are in a
settlement situation with appeals or the compliance center.
1/14/2002 Release 79
An option was added to allow you to select a special federal tax table that is based
upon 125% of the pre-2002 state death tax credit. This is the same as 100% of the
basic federal estate tax. This option is placed i=on the Options tab in the General
menu selection. This new option provides support for the estate tax reduction under
Code Section 2201.
An additional option has been provided where a state tax is based upon all of the
federal SDTC or part of the federal SDTC. You can now elect to use the pre-2002
federal SDTC table instead of the current federal SDTC table. Some states will
probably change their law to provide that the state tax should be couputed this way.
Once you select the SDTC option to compute state tax, you must select the button
"State Tax" and slect this option in the dialog box that appears. If you
have any further problems in this area call us.
1/8/2002
Connecticut has extended the phase out of their inheritance tax by one
year effective November 20, 2001. We have adjusted the tax table for Class B and
Class C beneficiaries to reflect the new law. If you have any problems with the
Connecticut phase our call us.
12/18/2001
Computation of the inclusion ratio used in the generation skipping transfer tax
worksheet in the GT Report module was changed. The fraction is not rounded to three
places. Before it was not rounded. This sould not change any computations by
more than a nominal amount.
12/12/2001
Default inflation factor for 2002 added. It is 110.33%.
12/3/2001 Release 78
An error was found in the computation of Oklahoma tax where there was
out of state property. This computation has been changed to prorate deductions
between Oklahoma and the other state. This should correct the problem. If you
have an further problems in the area, contact us.
11/15/2001 Release 77
When (1) the Complex option was selected, (2) the numerator of
the indeterminate fraction or the 'All But' fraction was adjusted for the tax generated by
the numerator, and (3) the New York method was selected forthe
computation of State Tax, the computed adjustment to the numerator did not proof.
This was because the divisor used to computed the adjustment was not the same for both
state and federal items. This has been corrected. This change might make it
impossible to reproduce some earlier computations. If this creats a problem for you,
contact us.
11/1/2001 Release 76
Some obsolete options were removed from the From Option for Form Letters in the ET
Report and replaced with current titles. District Director was
changed to Small Business/Self-Employed Division and Service
Center Director was changed to Appeals, Small Business/Self-Employed
Division. When one of these options is selected, the signature line of the
letter is prepared for the Supervisory Attorney or Group Manager.
10/25/2001 Release 75
The table used in the ET Report Writer to compute the unified credit for the purpose of
Worksheet TG has been modified. After 2002 it will now use the gift tax unified
creditinstead of the estate tax unified credit. When we modified Inter-Est for the
new law this year (Release 66) we used the estate tax unified credit table. This has
been corrected.
10/19/2001 Release 74
We started using a new compiler this month. We switch from VC++ Version 4.1 to
VC++ Version 6.0 around October 3rd. We have found three places in the program where
we had to make modifications to correct error in input. The errors occured when
input was accomplished using spin buttons. The errors were in the calendar in the
options menu, the "SetFonts" dialog box, and the input for the credit for tax on
prior transfers. These errors have been corrected. We will try to send
everyone who received Inter-Est since October 3rd a new copy.
9/6/2001 Release 73
An error was found in the ET Report Writer. When the change to the gross estate
is negative the amount ptrited for "Net change to gross estate" on Form 3228 and
Form 6180 was 0.00. The correct amounts were carried forward and this did not affect
the computations. This has been corrected.
8/30/2001 Release 72
A change was made to support the new Ohio credit. Prior to 2001 the credit was
$500.00. In 2001 the credit became $6,600.00. In 2002 the credit becomes
$13,900.00. If you find any other problems with our Ohio computation, let us know.
8/27/2001 Release 71
An error was found in the Gift Tax Report Writer. The error was in the
computation of the unified credit for prior periods for periods after the first period.
The error only occurred when there was an entry for specific exemption allowed for
gifts made after September 8, 1976, and before January 1, 1977. This has been
corrected.
8/17/2001 New Texas Interest Table
We have added an new interest table, Texas3.IT4 to our furnished interest tables.
Some pelople ask us why we furnish so many interest tables for Texas. Here is
a short explaination. Texas.IT4 uses the year-month-day method used by the IRS
before they went to Julian simple interest. Texas used this method until the
mid-80s. Texas switched to the Julian simple interest in the mid-80s. This is
supported by Texas1.IT4. For a couple of years in the early 90s Texas switched to a
compound monthly method. This method is supported in Texas2.IT4. In 1994 Texas
went back to the Julian simple method supported by Texas1.IT4. For Estates with a
Due Date after 1999, Texas has started changing the interest rate annually. To
support this we have added Texas3.IT4. For current computations you should use
Texas1.IT4 if your estate has a due date before 2000 and you should use Texas3.IT4 if you
estate has a due date after 1999.
8/13/2001 Release 70
Additional option added to State interest computation where Sec. 6166 type installment
election has been made. In the past, we allowed you to override the amount
qualifying for the special rate by using either a fixed dollar amount or to prorate the
qulaified tax using the same ration of the federal computation. The second option
was added specifically to take care of Missouri law. California has adopted the
federal method of computing the tax that qualified for the lower rate. A new method
has been added to support that method. The new option only works where the SDTC
controls the state tax.
7/8/2001 Release 69
The gift tax computatin for the GT Report Writer coputed a GST tax for 2010. This
has been corrected.
7/1/2001 Release 68
Two changes were made to the computations of the qualifying ratio for Sec. 6166
computations.
Where the estate qualifies of 2% interest and some of the interest is used to compute
the qualifying ratio, all the interest to the marked date us used where there is no
election to accept the 2% rate. Only the non-qulaified interest is used where there
is an election to accept the 2% rate or the date of death is after 1997. This is
done because the interest on the qualified tax is not "allowable" as a
deduction. This change is for the federal interest. We still use all state
interest to the marked date. This is because the state interest is an
"allowable" deduction.
The computed qualifying ratio is now rounded to six places. This is to match the
Service Center comptations. In the past we did not round the ratio.
6/21/2001 Release 67
In the ET Report writing section, we changed the output for Forms 3614-A and 890.
The same change was made to the GT Report writing section. The change we made
for Release 65 was extended to apply to the Statutory Letter (90 day letter) as well as
the Preliminary Letter (30 day letter). The assessed prior tax and penalty must be
input separately when working for the Statutory Letter as well as when working from the
Prelimianry letter.
These changes apply only where an election is made to use the Appeals forms.
6/18/2001 Release 66 - New Tax Tables for 2002 and Later
Changes have been made to the tax tables, unified credit tables and GST tax computation
to implement the Economic Growth and Tax Relief Reconcilliation Act of 2001.
We support the phase-out of the estate tax and GST tax through 2010 and then revert
to current law after 2010 to comple with the sunset provisions of the act.
We will need to create a new provision for an interrelated state death tax deduction
and several other new provisions. We should complete some of these provisions in the
near future. Most of the states will probably change their death tax provisions, but
we will not worry about that until it happens.
5/21/2001 Release 65
New York interest computation changed. Where date of death is after January,
2000, interest will not run on pick-up tax from due date. Prior to February, 2000,
interest on New York pick-up tax is not computed automatically. Prior to February,
2000, interest on the pick-up tax only ran from date of assessment.
In the ET Report writing section, we have changed the output for Form 3614-A and 890.
The assessed prior tax and penalty must be input separately where the report is
based upon the Preliminary Letter (30-day letter). There are separate input items
for these numbers on the Appeals page in the General Property Sheet.
In the GT Report writing section, we have changed the output for Form 3615-A and 890.
The assessed prior tax and penalty must be input separately where the report is
based upon the Preliminary Letter (30-day letter). There is a separate input button
to allow these numbers to be input in the Returned Property Sheet.
These changes were made to match the report writing requirements of IRS Appeals.
4/5/2001
Form 950 has been modified in the ET Report writing section. This supported form
has been changed to reflect the 9/2000 revision. We previously supported the 4/2000
revision.
3/27/2001 Release 64
We have made several changes tothe File Open command. Now when you look for or
open an interest table the doalog box starts with a path to the folder where the program
and help files are located. It does not change the current directory that us used to
find and save the other files.
When you associate an interest table to a case file, the dialog box tgere wukk also
look to the fo9nder where the program and help files are located.
We hope this will make it easier for our users to find and use the interest tables.
It should also help some users find and use ET Report Writer files and GT Report
Writer files that there were having trouble finding in the past.
2/28/2001 Release 63
An error was found in the way some federal penalties were transferred to start drawing
interest. Under some circumstances some of the penalty never started drawing
interest. This has been corrected.
2/20/2001 - Downloads
We have placed a copy of our current interest tables in a zip file in our web site.
You can download the file here. Just download the file Tables.zip and unzip it using PKZip, WinZip or some other program. After you
unzip it run Tables.exe and follow the instructions.
2/19/2001 Release 62
An additional option was added to the limitation to the state death tax credit.
In addition to the fixed dollar limitation and the limitation based upon the state tax
payments in the interest computation, a new limitation is added based upon a fixed
percentage of the maximum state death tax credit.
12/26/2000
An error was found in the Print Setup command in the File
menu. When you changed printers to use a printer other than the default printerthe
font descriptions and other printer information was not updated correctly. This
caused the lines in the printer output to either expand or compact. This has been
corrected.
12/13/2000 Release 61
Inter-Est changed to support new Pennsylvania law which reduces the tax rate for some
beneficiaries as of 7/1/2000. The tax rate for Class A was reduced from 6% to
4.5%, the tax rete for siblings was reduced from 15% to 12%, and the tax rete for parents
receiving bequests from children under 21 was changed from 6% to non-taxable.
11/30/2000
The changes in Release 60 to correct for an error found in an ET Report printout did
not completely fix the error. We have further adjusted the termination of Form 886A
when the page ends in the middle of a list of changes. We home this has been
corrected this time.
10/12/2000 Composite Inflation Factor for 2001
The composite inflation factor that should be used with Inter-Est for dates of death or
dates of gift in the year 2001 should be 106.83%. This is not exact, but is in a
range that should generate the correct answers. The GST exemption increases to
$1,060,000. The $750,000 maximum special luse valuation reduction will be increased
to $800,000. These numbers are derived from the information in the CCH Federal
Estate and Gift Tax Reports, Number 172. If you have any questions, call us.
9/29/2000 Release 60
Where the work 'District' was used in a form this has been changed tothe work 'Area' in
most situations. This change is made to reflect the reorganizations of the IRS.
If our changes do not meet your needs, call us.
An error was found in at ET Report printout. At times the page of the 886A was
not terminated correctly where the list of changes was clost to the bottom of the page.l
This has been corrected.
9/13/2000 Release 59
The Maryland inheritance tax rates were changed for some classes as of
7/1/99. Inter-Est has been adjusted to include these changes. The rates for
lineal decendants were reduced from 1% to .9% and the rate for siblings was reduced from
10% to 5% with a phase-in over several years.
7/27/2000 Release 58
An error found in the way prior UC was carried forward in the gift tax
report writer where more than one year was involved. This has been corrected.
Also chaged in the gift tax report writer is the way corrected prior taxable gifts
are carried forward. In periods after the first period, the corrected prior
taxable gifts are now based upon the amount carried over from a prior year
instead of the amount from the returned column.
Some spelling corrections were also made to some of the letter forms in the estate tax
report writer.
6/26/2000 Release 57
An error was found in the computation of interest on penalties where there was a Sec.
6166 election. This has been corrected.
6/9/2000 Release 56
An error found in the Estate Tax Report computation of the unified credit where there
is a family owned business deduction. The computation of the unified credit was
correct for computations in the Case (Interrelated) computations. This has been
corrected.
5/1/2000 Release 55
The format and text for Form 950 in the Estate Tax Report output has been changed to
match the 4-2000 revision of this form. Our earlier version matched the 4-1999
revision. Several other changes have been made for the Estate Tax Report forms to
correct spelling errors, etc. Most of these changes were minor.
4/13/2000 Release 54
The limit to the maximum dollar amount Inter-Est can input has been
increased from $9,999,999,999.99 to $999,999,999,999. The printout of numbers in
excess of the old limit is not satisfactory if you round to the penny, but is fine if you
round to the dollar. If Inter-Est detects that the sum of the gorss
estate and the adjusted taxable gifts exceed the old limit and you are rounding to the
nearest penny, the rounding flag will be set to round to the nearest dollar. A
similar adjustment is made for the gift tax computations. Inf Inter-Est
fails to detect the large number, you will have to change the rounding flag manually.
If you need to deal with larger numbers, call us.
3/17/2000 Release 53
An adjustment has been made to the way Inter-Est adjusted the foreign death tax credit
for charitable bequests or marital bequests from residue. The computation of Factor
G from the regulations was not correct and has been adjusted. If you have any
problems in this area, call us.
2/15/2000 Release 52
Simple support for interest free refunds under Sec. 6611(e)1, 6611(e)2 and 6611(e)3
have been added. This new feature supports only simple fact situations and only one
interest free refund of each type. If you run into a problem that the new feature will not
support, call us.
1/5/2000 Release 51
An error was found in two headings of Form 3363 for prepare files. "Amount of
Claim Disallowed" and "Amount of Claim Allowed" were reversed. This has
been corrected.
12/13/99
We have changed to format of Letter 937, POA Transmittal Letter. If you have any
questions or find an error in this transmittal letter, please call us.
12/10/99 Release 50
The IRS has changed the format of Letter 950 - the 30-day Protest Letter. We have
changed the format of our Letter 950 to match. If you have any questions or find an error
in our 30-day letter, please contact us.
11/10/99
Change was made to North Carolina computation. The Class A tax credit was wrong
for dates of death after 1996. This has been corrected. An error has also been
found in the North Carolina computation where there is out of state property. This
error has not been corrected yet, but we will work on it.
10/22/99 Release 49
Support has been added to prepare files for five standard letters. These are
Letter 626 - Exam Report Cover Letter, Letter 927 - Closing Letter, Letter 922 - Exam
Report Cover Letter, Letter 937 - POA Transmittal Letter, and Letter 950 - 30-day Protest
Letter. If you find any errors in these letters, please let us know.
9/23/99 Release 48
Support for simple appeals reports has been added to the gift files. When the
appeals options is selected, Form 3232 is replaced by Form 5402 and the standard gift tax
forms are replaced by Form 3615A.
This support is not complete and we hope to make it better in the future.
Chage made to the North Carolina computation. We had left out the input for 'out
of state' property in the North Carolina c0omputation. This has been corrected.
9/17/99 Release 47
Support for simple appeals reports has been added to the prepare files. When the
appeals options is selected, Form 3232 is replaced by Form 5402 and Form 1273 is replaced
by Form 3614A.
This support is not complete and we hope to make it better in the future.
9/1/99 Release 46
Support for Form 10-141-B has been added to the prepare files. When this form is
selected the computation is changed to support Form 706NA computations for non-resident
aliens.
8/20/99 Release 45
Support for Form 4349 has been added to the prepare files and support for Form 5225
checksheet and activity record has been added to the prepare and gift files.
8/6/99 Release 44
Support for Form 3232 Transmittal Letter has been added for prepare files.
7/28/99 Release 43
Support for Form 3363 and Form 2297, waivers has been added to the prepare and gift
files to support claims.
7/22/99 Release 42
Support for Form 890, waiver has been aded to the prepare and gift files. A small
change has also been made to the way the prepare files are formated to make them
consistant with the way gift tax files are formated.
7/12/99 Release 41
Major change to the format and use of Gift files. These have been
changed from a simple duplication of the Form 709 computation to a simple implementation
of the Estate Tax Attorney's Gift Tax Report (Form 3233). This will change the output of
prepare files created with older versions of Inter-Est, but it was determined that the new
Form 3233 representation will be more useful than the old Form 709 representation.
We plan to make other changes to git gift tax report and estate tax report formats in the
near future.
5/22/99 Release 40
Major change to the format and use of Prepare files. These have been
changed from a simple duplication of the Form 706 computation to a simple implementation
of the Estate Tax Attorney's Report (Form 1273). This will change the output of prepare
files created with older versions of Inter-Est, but it was determined that Form 1273
representation will be more useful than a Form 706 representation.
Once we have determined the effect of this change, we will probably make other changes to
improve these reports and also to provide similar support for gift tax reports.
5/10/99 Release 39
An error was found in the Sec. 6166 computation where an election was made to extend
only the amount of tax that qualified for the lower 4% (or 2%) rate. The other
qualified balance was not reduced as it should have been. Instead, the non-qualified
was reduced. This has been corrected.
2/23/99 Release 38
Two changes were made to the gift tax computation. Error where includings spouse's
gifts corrected. Also adjustment made so you can enter negative gifts for some
computations.
12/28/98 Release 37
The inheritance tax for North Carolina has been repealed for dates of
death after 1998. For these dates use the general state provisions.
10/8/98
Feature added to automate the inflation factor for 1999. If no inflation factor
has been entered for 1999, Inter-Est will now insert a factor of 101.67%. While this
factor is not exact, it should give the correct numbers for 1999 based upon the
information in the CCH Federal Estate and Gift Tax Reports #71 dated Semptember 29, 1998.
When the official factor comes out in December, we will correct this number if
necessary.
9/29/98 Release 36
An additional option has been added to the election of the special interest rate (2%)
for State Sec. 6166 interest computations. You can now chose
whether to compute interest on the qualified tax that was extended but did not qualify for
the special 2% rate (other qualified) at either the regular rate or at 45% of the regular
interest rate.
9/24/98 Release 35
Error to North Carolina Input corrected. If you have trouble
getting into the North Carolina input section call us.
9/9/98 Release 34
Three additional changes were made to support the new Schedule T, Qualified
Family-Owned Business Interest Deduction. The first two changes relate to
this schedule in Prepare files.
The first provision allows you to reduce this deduction by marital or other deductions
attributable to the family-owned business interests.
The second provision allow you to elect less thant the maximum computed deduction.
The third provision is to allow the fixed dollar amount input for this deduction in Case
files to be adjusted using the Complex option. This should allow
most interrelated computations of this deduction to be completed. The IRS
position on the computation of this deduction will result in some interrelated
computations. If you have a problem computation, call us and we will try to help.
8/28/98 Release 33
Several changes were made to support the new Schedule T, Qualified Family-Owned
Business Interest Deduction and Schedule U, Qualified Conservation
Easement Exclusion.
The computation for Prepare files was adjusted to use the proposed
schedules from the draft Form 706. These schedules are fairly straight-forward.
The computation of the unified credit was changed so that the credit will be
adjusted where a deduction is allowed on Schedule T.
The computation for Case files was not adjusted for Schedule U.
As Case file only use an input for the total gross estate, the details of the computation
of the gross estate is not necessary.
The computation for Case files accepts a fixed amount as the Schedule
T deduction. However, in addition to the adjustment to the unified credit, it also
makes adjustment to the computation of the amount qualifying for 2% interest under sec.
6166 and to the computation of the foreign death tax credit (in the event some of the
qualified property is outside the United States).
Since these items are new, we will probably need to make some adjustments to them as we
get experience. It has been suggested that Schedule T might become interrelated.
If you have any questions or suggestions, contact us.
8/7/98 Release 32
The estate tax exemption for bequests to family members has been increased for
Oklahoma. An additional exemption for bequests of qualifying business interest to
qualifying heirs has also been added. Inter-Est has been modified
to allow for these changes.
7/27/98 Release 31
The President signed the Internal Revenue Service Restructuring and Reform Bill of 1998
(H.R. 2676) last week. The technical correction about the limit to the five-percent
surtax in Sec. 2001(c)(2) of the IRC was not included. Inter-Est
has been modified (for dates of death after 1997) to limit this surtax to amounts between
$10,000,000 and $17,184,000.
We will send free updates to all who purchased Inter-Est after 9/8/97
with corrected tax tables. This should take about two weeks. If you need the
correct tables faster, call us.
6/29/98 Release 30
Kansas has replaced their inheritance tax with a pickup tax effective
July 1, 1998. After that date, the Kansas tax will be equal to the amount of the
maximum credit allowed by the IRC. For dates of death after June, 1998, you should
use the standard provisions for pickup tax states and not use the specific Kansas
provisions. You should get the same answer, and it will be less trouble.
Tennessee has increased the allowable exemption. We have allowed
for this change and have also corrected some problems with the Tenessee computation for
dates of death after 1989. If you have any problems with the Tennessee computation
call us.
6/15/98
The date routines used to compute the julian day number to store dates and compute days
between dates for interest purposes have been changed. The old routines were valid
for dates between March 1, 1900, and February 28, 2100. The new routine is valid for
dates between 1583 A.D. and 3300 A.D. For normal use, no one should notice any
change.
6/2/98 Release 29
The unified credit for New York was computed using the New York taxable estate instead
of the New York tentative tax. This has been corrected. This error did not
show up earlier because not very many people usind Inter-Est to compute
tax on such small estates.
5/18/98
We have added links to this Web Site and our EMail address to the About Box (Reached
through the Help Menu). These links are only active for Windows 95 and Windows
NT. These links will only work if your Web Browser and Mail Program are registered
with your operating system. This should make access to this Web Site easier for many
of our users.
5/14/98
The Senate Finance Committee approved the Internal Revenue Service Restructuring and
Reform Bill of 1998 (H.R. 2676) on March 30, 1998. One of the technical corrections in the
act covers the limit to the five-percent surtax in Sec. 2001(c)(2) of the IRC. Inter-Est
curently computes the limit to this surtax in the manner proposed by this Act, adjusting
for the phaseout of both graduated rates and unified credit. If this Act does not pass,
the limit to the surtax will be computed based upon the phaseout of only the graduated
rates and the tax computed by Inter-Est will not be correct for decedent’s dying, and
gifts made, after December 31, 1997.
We will make a correction to Inter-Est if the technical correction does not
pass, but we believe that the way we do it now should be correct in the long run.
5/10/98 Release 28
An additional option has been provided for computing interest rates for State Sec. 6166
elections. Some State adopt the federal interest rates. When such a State allows the
special 2% rate like the federal provisions based upon the Taxpayer Relief Bill of 1997.
If this election is made for a state period, interest rates after the parked period will
be based upon the new special rate and 45% of the regular deficiency rate. This new State
provision differs from the same election for federal interest because it does not change
the deductibility of State interest. No time limit was placed on the exercise of this
election.
This is the first provision for State law based upon the Taxpayer Relief Bill of 1997.
If you need any other provisions, contact me.
3/5/98 Release 27
New York provisions have been adjusted for the phase-out of their estate tax. The
unified credit changes between 10/1/98 and 2/1/2000. After 1/31/2000 the New York tax is a
standard pick-up tax.
After 1/31/2000 just use the SDTC provisions to compute New York tax.
Prior to 2/1/2000 the only change is an adjustment to the unified credit after 9/30/98.
If any other provisions are needed during the phase-out period, call me.
2/12/98 Release 26
An error was found in the computation of interest where there was a Sec. 6166 election
and an Interest Free Period (where the IRS billed late after a waiver was signed). This
has been corrected.
The provision for the computation of the tax for the State of Louisiana has been
modified to allow for the phase out of the state inheritance tax. The tax rate is reduced
by 18% for dates of death before 7/1/2001 and after 6/30/1998. The tax rate is reduced bt
40% for dates of death after 6/30/98 and before 7/1/2002. The tax rate is reduced by 60%
for dates of death after 6/30/2002 and before 7/1/2003. The tax rate is reduced by 80% for
dates of death after 6/30/2003 and before 7/1/2004. After 6/30/2004 there is only the
pickup tax. If you need any other changes to the Louisiana provisions, call me.
12/15/97 Release 25
We found a computation that would not come within the builtin error tolerance for the
Inter-Est. To solve this problem, we have increased the size of the allowed error where
Inter-Est completes a computation. The new tolerances are:
The new tolerances might make some computations less accurate, but they will allow the
problems to be solved faster and with more certainty.
12/4/97 Release 24
Changed to computation of New York tax where decedent is a non-resident. The computed
state gross is now based upon the federal gross estate less out of state property instead
of the state adjusted gross estate less out of state property. If this is not
satisfactory, please let me know.
10/17/97
When you selected a closely held business option in Part 3 of the generation skipping
transfer tax computation, the printed output was in error, but the computed amounts were
correct. The output for Part 3 of the GST computation section indicated that it was
showing (1) the Sec 6166 Closely held business amount in part 3 and (2) the part 3 GST tax
qualified for the sec. 6166 election. In fact, it just copied the numbers from Part 2 and
printed them. The correct number for "Part 3 GST Tax Qualified for Sec. 6166"
was used and displayed in the federal interest option section. This has been corrected.
10/6/97
The prompt and help screens relating to the election to use the new low (2%) interest
rates for Sec 6166 said that the election was effective if made in 1998. The prompt and
help screens have been modified so that they only state the requirement that the election
be made prior to 1999. Some have taken the position that the election can be made at any
time after the effective date of the Act (August 5, 1997). Reading the new law makes me
think that they might be correct. Inter-Est already allowed the effective date of the
election be prior to 1998, but the prompt and helpscreens took a position that was not
necessary, this has been changed.
9/24/97 Release 23
On 5/8/97, in Release 14, a small change was made to the complex computation. The ratio
used to compute the indeterminate fraction and the "All But" fraction was
adjusted so it could not exceed 100%. This was done to keep the answer reasonable even
when the input facts are out of range. We have been told that for some computations to be
completed correctly, the ratio needs to exceed 100%. This change has been reversed. Now
the ratio can exceed 100%. If you enter a number for the numerator of these fractions that
cause the ratio to be over 100% you might get a nonsense answer.
9/17/97 Release 22
When both restricted interest and the limit to SDTC were selected, the amount drawing
restricted interest was based upon the maximum SDTC instead of the alowable SDTC. This has
been corrected.
9/15/97 Release 21
When computing the interest deduction using the new Sec. 6166 method where an election
was made to deduct only interest that is both paid and accrued, the computation of
"Accrued Interest Not Paid" was not correct. This error was caused by the fact
that the computation used the total accrued interest not paid instead of the accrued
deductible interest that was not paid. This has been corrected.
9/11/97 Release 20
A correction has been made to the computation of deductable interest while Sec. 6166 is
in effect. We had construed Sec. 2053(c)(1)(D) as requiring no deduction of federal
interest while the Section 6166 election with 2% interest was in effect. This has been
changed so Inter-Est now allows a deduction for the non-qualified interest drawing the
regular interest rate and only denying the interest deduction for interest accrued at the
special rates (either 2% or 45% of the regular rate).
9/2/97 Release 19
The election flag to elect the 2% interest rate for Sec. 6166 did not work correctly
where the election was to be effective as of the due date. This has been corrected.
When the flag is set to have all qualified amounts draw the regualr rate, if the new
law applies, 45% of the regualr rate will be used, not 100%. If this is not satisfactory,
please let me know.
8/23/97 Release 18
This release contains a number of changes. These changes fall into two main groups:
changes to support the Taxpayer Relief Bill of 1997 (inflation adjustments, Sec. 6166
changes, etc.) and changes to support a new feature that allows the computation of simple
gift tax problems.
WARNING - The new Gift Tax module is not complete. It should be able to compute simple
gift and GST tax liability and should be easy to use, but some features are not complete.
The output is not formated correctly. Direct skips subject to an estate tax inclusion
period (ETIP) are not supported correctly. However, we will continue to work on this
module after we complete work on changes related to the Taxpayer Relief Bill of 1997.
The excess accumulation tax was repealed as to estates of decedents dying after
December 31, 1996. Any input numbers for excess accumulations will be ignored for dates of
death afer 1996.
7/24/97 Release 17
The change in the Ohio marital deduction for dates of death after 7/1/93 was
incorrectly computed using a 7/1/94 date. This has been corrected.
7/7/97 Release 16
There was an error where an interest suspense account was used in the Sec. 6166
interest computation where the option to have an interum payment applied to the exesting
interest balance. This has been corrected.
6/5/97 Release 15
The New York computation of the credit for prior transfers was in error where there was
an entry for adjusted taxable gifts. The program used adjusted taxable gifts instead of
aggregate gift taxes paid. This has been corrected.
5/8/97 Release 14
The computation of the gift tax credit followed an old version of Form 4808 that did
not allow for adjusted taxable gifts. This has been corrected by following a newer version
of this form.
The Massachusetts Sec. 3(a) exemption was not computed correctly for dates of death
between 1985 and 1993. This has been corrected
Small adjustment to complex computation. Now the ratio used to compute the
indeterminate fraction and the "All But" fraction has been adjusted so it cannot
exceed 100%. This will keep the answer reasonable even when the input facts are out of
range.
5/2/97
In the printout of New Jersey tax computation, the computation used the federal debts
and expenses, but the description on the printout said it was the federal debts and
expenses before interest. The description has been changed to match the computation:
"Federal Debts & Expenses".
4/10/97 Release 13
An error was found in the complex computation where New York was involved. The
denominator used to compute the Indeterminate fraction and the "All But"
fraction was based on the federal taxable estate, etc. for all computations. This has been
changed to use the federal number for all computation except the New York computation
which uses the state numbers for taxable estate, etc. to compute the denominator. This
change gets Version 3.00 back to doing this the same way that Version 2.00 did.
3/17/97
The Ohio provision to add back tax to the Ohio marital bequests has been made optional.
You can select it or not. This should support versions of the Ohio Probate Code Sec.
5731.15 effective for all dates.
3/13/97 Release 12
It was noted that when complex was selected, the Sec. 2207A right of reimbursement
adjustment was made to residue directly as well as through complex. This has been
corrected.
In the Ohio computation, the marital deduction was changed. The mini-max limit now goes
from $500,000 before 7/1/91 to $1,000,000 after 6/31/91. On 7/1/93 the marital deduction
is treated as having no limit.
In the Ohio computation the state tax attributrable to the marital bequest and the
charitable bequest was added back as an adjustment. This computation has been adjusted so
that the tax added back is adjusted for any Sec. 2207A right of reimbursement.
If you spot any other probelms with our Ohio computation contact us. We will try to get
this computation as accurate as we can.
2/26/97
An option has been added to the View menu to allow the user to select a toolbar with
larger buttons. This is to aid users with large screens. On large screens the large
buttons are the default and the user can use the feature to sellect the standard toolbar.
2/14/97 Release 11, Printer Bug Strikes Again
We found that the bug fix we completed on 1/30/97 to correct the problem when running
under Windows 95 had created an output problem when running under Windows 3.1 and Win32s.
We have corrected this problem.
2/6/97 Release 10
The New Jersey computation was looking in the wrong tax table for two classes of
beneficiary. This has been corrected.
2/5/97
In the Prepare File output, the printed number for line 5 of part 1 of Schedule R was
not correct. This has been corrected. This error did not affect the answer, but was just a
printout error.
1/30/97 BUG FIX
The bug reported below on 1/24/97 has been fixed. There might be a residual problem,
but if so, it should be minor.
1/24/97 Release 09
The font selection dialog box has been changed. Instead of selecting three printer
fonts and three display fonts, you now select the three printer fonts and a factor to be
used to create display fonts from the printer fonts. This should make it easier to use
Inter-Est.
1/24/97 BUG ALERT
After a Prepare file is reformatted several times, you might not be able to print or
enter the print preview screen. This problem can be solved by saving your data, leaving
Inter-Est and the restarting Inter-Est. This problem appears to be related to the print
formating used to display Prepare files. Inter-Est runs out of a Windows resource and
cannot create or manipulate fonts. There are other symptoms, but this is the main one.
This program has been tested on several computers and this problem only showed up on
one. It was a Toshiba 80486 portable with 12 MB of memory running Windows 95. The problem
did not show up on the other computers tested. We will continue to look for an answer to
this problem.
12/31/96
A Search Menu option has been added so that you can now search the output for Case or
Prepare files for an individual word or phrase. The green highlight bar is moved to the
line where the search string is found.
12/26/96
The edit boxes that have more than one line to enter text have been changed so they now
used the carriage return. Since the carriage return is no longer sent to the dialog boxes,
they cannot used the carriage return to select the default button. This change should give
the user more flexibility in formatting item descriptions.
12/19/96
The font selection dialog boxes now allow you to select color fonts for the screen
output displays. Moderation is recommended. A little color in headings is nice, but some
colors will make the screen hard to read. You are allowed to select a color for each of
the three supported font sizes. This makes the color support for display fonts the same as
that for printer fonts.
12/16/96
The light blue lines used to allow you to follow lines across the screen have been
changed to cyan. We did this because some computers could not reproduce the light blue.
When they did not, some used cyan and some used grey. This change should make look of the
lines on screen more uniform between users.
12/6/96
Separate input items offered for input of taxes charged to the marital and charitable
deductions for Prepare files.
12/5/96 Release 08
In computing the qualifying ratio for Sec. 6166, the interest to the last period marked
for use in computing the Sec. 6166 qualifying ratio was computed and printed out, but was
not in fact used in the computation of the qualifying ratio. This has been corrected.
Three supported states do not charge interest on all state tax. This was not handled
correctly. A change has been made so New York, Louisiana, and Michigan tax that draws
interest is computed correctly. New York and Louisiana do not charge interest on the
pick-up tax. Michigan does not charge interest on the county tax.
12/2/96
The schedules created for Prepare files when the Verbose view is selected now have the
total at the bottom of the first page of schedule data with continuation schedules
following if required. The other views continue to break pages as in the past.
11/25/96 Release 07
Support for printer fonts and display fonts have been improved. Now Inter-Est supports
three fonts for both printer and display output. There is a standard font plus a font for
heading and a font for smaller notes. When you first load Inter-Est please check these
fonts to see if they are what you want. These fonts can be changed from either the File
Menu or the View Menu. Be sure you select legible fonts.
Until now, the standard and verbose outputs for Prepare files have been the same. This
has been changed. Now Verbose output leaves out schedules with no input items and each
schedule starts a new page when printing. This is part of our effort to make the schedules
created by prepare files more useful.
10/28/96
The settings for printer and display fonts has been changed. There are now separate
settings for Case files and Prepare files. This should give you more flexibility in
setting and using printer fonts and display fonts.
10/3/96 Release 06
Some users found the method I used to adjust the interest deductions for amounts
claimed on the estate's income tax return confusing. We have added an input item in the
interest input dialog screens so you can input an amount which will be subtracted from the
computed interest deduction. This should make it easier to make this adjustment.
This change required an additional data item to be saved, so the input files were
modified. When a file has been saved with this Release 06 version, it can no longer be
read by earlier Releases of Inter-Est Ver. 3.00.
9/24/96
Some users have had a printing problem. At times, such as when trying to print in
duplex mode, the program lost track of the right margin and all output was printed on the
left margin. We had not been able to fix this problem and assumed that it was a problem
with the print driver. We have now made a change to the program which might fix this
problem. Anyone with this printing problem can now receive a free update that might solve
this problem.
9/18/96 Release 05
An additional file type is now supported. In addition to the standard compute files
(*.et3) and interest table files (*.it4), Inter-Est now supports prepare files
(*.pre). These files enable you to make some computations to help prepare your data for
computation with our standard compute files. Some of the computation methods used in our
RAR program has been added such as support for Worksheet TG, computation of part 1 of the
TPT computation, etc. We plan to change and improve this feature over time. At present,
the manual and help files do not reflect this addition to the program capabilities.
Computation of Massachusetts Sec. 3(a) exemption changed for dates from 1993 to 1996.
There is no exemption if the Massachusetts net estate exceeds the table exemption..
8/19/96
Computation of Massachusetts Sec. 3(a) exemption changed for dates from 1993 to 1996.
The exemption increases until 1997 when the tax becomes a sponge tax. We had the exemption
set at 0.00.
8/13/96 Release 04
An additional test has been added to the convergence routine to make sure Inter-Est
completes its computation of state tax before it quits. This should not affect many
computations.
7/18/96
Restricted interest printout where there was a §6166 election did not print out the
total restricted interest for each period. This has been corrected.
7/16/96
An additional pane has been added to the Status Bar. This pane is blank unless the
active document has been modified and not saved. If the active document has been modified
but not saved, this pane will show "MOD".
We have added Dialog Tips for most input items. We will try to improve them over time,
but the initial installation is finished. Note: When running under Win32s, these Dialog
Tips will not work for Edit Boxes (input of numbers and strings), but should work for
other dialog input controls.
7/9/96 Release 03
The computation of the limit to state death tax credit did not take into consideration
tax payments made on the computation date. These payments were used to compute the final
balance line for the output. The computation of the limit to state death tax credit has
been changed to consider payment made to tax on the computation date.
7/5/96
A new feature, Dialog Tips, has been added to Inter-Est. They can be turned on or off
from the Options menu. At present they are only supported in a few dialog boxes, but we
will try to improve this support in coming weeks.
6/27/96 Release 02
A change has been made to the computation of Indiana inheritance tax. The beneficiary's
exemption is now deducted, beneficiary by beneficiary, instead of having to reduce the
taxable amount as a whole. This should result in a more accurate computation.
A provision was also added to support a 5% discount for Indiana inheritance tax paid
within twelve months of date of death.
6/14/96
Inter-Est 3.00 was looking at the current subdirectory for the default interest table
file, "Federal.it4". Some users have had trouble when Inter-Est 3.00 could not
find the default interest table which is inserted in new case files as the federal
interest table. This has been changed. Now Inter-Est 3.00 will look first in the
subdirectory where the program file is located and then if it does not find the default
interest table it will look in the current subdirectory. If the file is not found in the
current subdirectory, the default interest table will not be used This should keep error
messages down and make it easier for Inter-Est 3.00 to find the default interest table.
This change is only to where Inter-Est 3.00 looks for this default interest table. It
does not change the fact that when you select an interest table, the File Open Dialog Box
will start at the current directory just as it does when you open an existing case file.
6/12/96
An error was found in the way the builtin calculator handled chain calculations. We
have modified the routine so this should work better now.
6/6/96
The option menu choice to have case views start maximized has been removed. This is a
minor change to the interface. The case view will now start maximized if the last case you
were working with in an earlier session was maximized.
The print button on the tool bar has been changed. When you print from the tool bar,
you get one copy and the print dialog box, which allows you to select the number of
copies, etc., is bypassed. If you want to use the print dialog box to change any setting
you should use File|Print from the menu.
5/31/96 - Release 01
This is our final release version of Inter-Est, Version 3.00. We will try to keep this
release stable and not make many changes or additions for a while.
Inter-Est now remembers the last setting you made to a case view as to the type of
view, whether highlight line is enabled and whether the blue lines are enabled. These
settings are used the next time you open a case file or new case view.
Inter-Est also now remembers whether you had the tool bar and status bar visible and
the next time you open Inter-Est the tool bar and status bar will be set as the were the
last time you used Inter-Est.
5/27/96
You can now use the Options Menu to tell Inter-Est to open case files maximized. This
will help you customize Inter-Est for your own use.
5/26/96
Inter-Est now remembers whether the CaseBar was visible the last time you left
Inter-Est. If it was not visible when you close Inter-Est, it will not be made visible
when you open Inter-Est the next time.
When you tried to make an interest computation and no interest periods were entered an
error occurred when some views were displayed. This has been corrected.
5/23/96
One of our users indicated they wanted an option to delete files like we offered in
Ver. 2.00. We have therefore added a Delete File option to the File Menu. It should work
just like the same feature in Version 2.00.
5/22/96
An option has been added to the View menu to allow you to select the screen font used
to display the case file screen output. This option is separate from the option in the
File menu which allows you to select the printer font.
5/21/96
Inter-Est will now load with its main screen set to the size and position where it was
set the last time you left Inter-Est.
An error in the calendar routine which was added on 5/9/96 was found and corrected.
While the calendar worked fine on Windows 95 or Windows NT, this error kept the calendar
from working in Windows 3.1 or Windows 3.11 using Win32s.
5/15/96
Error found in computation of GST Tax amount qualifying for the Sec. 6166 election. The
error has been corrected. The way this is computed seems fine for specific bequests, but
when part of the GST transfer is from residue, the entered amount for the closely held
business amount in the GST transfer will have to be fudged. If you have a problem in this
area, call us.
5/13/96
An additional option was added to the options for initial setting for new cases. You
can set Inter-Est to select a state computation and method automatically each time you
create a new case file. This should help those who work with data from one state all the
time. Unlike Version 2.00, you must still select the state interest table manually.
5/9/96
A calendar has been added to Inter-Est. From edit boxes that are used to input dates
you can double click the left mouse button. From other edit boxes that are used for
numeric input you can hit the F7 key.
If you are not in a dialog box you can use the Options|Calendar menu option or hit the
F7 key.
5/6/96
The computation of the New York pickup tax was modified to limit the pickup tax where
there is a federal credit for tax on prior transfers and the 2nd limitation controls. This
change was made to support the last sentences in Sec. 952(c) and Sec. 960(c) of the New
York Code. The feature should not affect many computations. If you have any trouble with
this new feature call us.
4/29/96
An error in the application of the expenses computed using the Complex mode was found
in Part 3 of the GST Tax computation. The computed expenses were not used unless a similar
election was made for Part 2. This error has been corrected.
4/25/96
A calculator has been added to Inter-Est. You can enter the calculator from edit boxes
that are used for numeric input other than date input by double clicking the left mouse
button. The F8 key will take you to the calculator from any edit box used for numeric
input.
If you are not in a dialog box you can use the Options|Calculator menu option or hit
the F8 key.
4/1/96
An additional feature has been added to the interest computation. When you enter a tax
or interest payment on the computation date (the last date entered as an interest period)
that payment will no longer be ignored. A final balance will be computed. When you do this
in a Sec. 6166 computation where the last period is marked as having a tax payment
allocation method of 'C', Inter-Est will no longer print out an estimated required tax
payment. If you have any problem with this new feature, please call and let us know.
3/25/96
An additional option has been added for state interest computations where Sec. 6166 has
been elected. You can now designate a fixed dollar amount to be used as the amount of
qualified tax which draws the special (4%) interest rate. You can also indicate that you
want the percent of state qualified tax that gets the special rate to be the same as the
computed percentage of federal qualified tax that gets the special rate.
3/11/96
The computation of the bequests to charity and the bequests to the marital deduction
have been modified so that these bequests cannot be less than zero. This will help people
working with preliminary numbers get better rough answers. In a normal computation, you
should reformulate these computations if the amount turns out to be zero or less than
zero.
Support for versionable schema has been improved.
3/1/96
Support for the New York Principal Residence Deduction has been added. No adjustment
was made to the computation of the gift tax credit because of this change, and a simple
adjustment was added to the computation of the credit for tax on prior transfers. If you
have any suggestion or corrections please contact us.
2/23/96
The computation of the GST tax which qualifies for the Sec. 6166 election has been
adjusted to restrict it to the amount of GST tax.
2/12/96
A new method of getting to the input dialog boxes has been added. In addition to the
Case Menu option and the Case Tool Bar, you can now double-click on a line in the screen
output view and be taken to the first level of dialog box to edit or change that item.
Since this is a new feature it has not been refined and might not take you to the dialog
box you want. We plan to continue working on this feature.
2/5/96
Inter-Est failed to clear the computed amount of interest used for the Sec. 6166 ratio
computation between runs. This created an error when the mark to make this computation was
turned off after it was on. This has been corrected.
1/29/96
An error was found in the Louisiana tax table for Class C. This has been corrected.
Also changed Louisiana computation so it would not consider the computed interrelated
interest when computing the Louisiana taxable estate.
The way the Nebraska exemption is applied has been changed. We were giving credit for
the exemption twice. This has been corrected.
1/24/96 - BETA
We have a new install program that works much better, and the written Getting Started
manual has been finished. We will now call this the BETA release as it is very close to
finished.
12/15/95
We found two errors in the print routines. If your printer did not use 600 dpi
resolution, the type would be the wrong size. Also print and print preview did not work on
Windows 3.xx with Win32s. These problems have been corrected.
Error corrected in Sec. 6166 computation where the installment payments started on the
due date. This has been corrected.
11/13/95 - ALPHA - Completed Initial Version 3.00
We have completed a working copy of Version 3.00. This is a new version of Inter-Est
which is designed to run on 32 bit Windows systems. It will run on Windows 95, Windows NT
or Windows 3.xx using a late version of Win32s. As we still need to test this version and
add some additional features at this point, this should be considered an early BETA
version or a late ALPHA version.
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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