Iowa Administrative Code Title 701 — Department of Revenue

Iowa Admin. Code r. 701—306.4(422) — Computation of interest on overpayments

If the amount of tax determined to be due by the department is less than the amount paid, the excess to be refunded will accrue interest from the first day of the second calendar month following the date of payment or the date the return was due to be filed or was filed, whichever is the later.

Last amended: This rule is intended to implement Iowa Code section 422.25. [Editorial change: IAC Supplement 11/2/22] [Filed 12/12/74] [Filed 12/10/76, Notice 9/22/76—published 12/29/76, effective 2/2/77] [Filed emergency 6/6/80—published 6/25/80, effective 6/6/80] [Filed emergency 7/17/80—published 8/6/80, effective 7/17/80] [Filed 12/5/80, Notice 10/29/80—published 12/24/80, effective 1/28/81] [Filed 9/11/81, Notice 8/5/81—published 9/30/81, effective 11/4/81] [Filed 11/20/81, Notice 10/14/81—published 12/9

Source: official text