42.2.508    ADJUSTMENTS TO PENALTY AND INTEREST

(1) Late pay penalties will be adjusted based on the corrected amount of tax due that results from an amended return, adjustment from an audit, or correction to the original return.

(2) The department will adjust interest based on the corrected amount of tax due that results from an amended return, adjustment from an audit, or correction to the original return, unless a decrease in tax due arises from a net operating loss or a tax credit.

(3) When there is a change to the tax liability that results from an amended return, adjustment from an audit, or correction to the original return, no change will be made to the underpayment interest penalty as calculated on the original return.

(4) The taxpayer may appeal a penalty assessment under the provisions of ARM 42.2.510 and ARM 42.2.613 through 42.2.621.

History: 15-30-2620, 15-31-501, MCA; IMP, 15-1-216, 15-1-222, 15-30-2602, 15-30-2604, 15-30-2605, 15-31-502, 15-31-503, 15-31-510, MCA; NEW, 2016 MAR p. 2073, Eff. 11/11/16.