Ordinance 1960-93 - Laserfiche WebLink

• 1 , his/her authorized agent, members of the City Council, and proper officers of the Department of Revenue of the state of Washington, for official purposes, but only if the statutes of the state of Washington grant similar privileges to proper officers of the city of Everett; and it shall be unlawful for any person to make public or to inform any other person as to the contents or any information contained in or to permit inspection of any application or return except as in this section authorized. Section 26: Over or under payment of tax--interest-- Limitations. A. Deficient Payment. If upon examination of any returns, or from other information obtained by the Audit Department, it appears that a tax or penalty has been paid less than that properly due, the department shall assess against the taxpayer such additional amount found to be due and shall add thereto interest at the rate of nine percent per annum from the last day of the year in which the deficiency is incurred until date of payment for tax liabilities arising before January 1, 1992 . For tax liabilities arising after December 31, 1991, until the date of payment, the rate of interest shall be variable and shall be an average of the federal short-term rate as defined in 26 USC Sec. 1274 (d) plus two percentage points. The average will be computed as provided in RCW 82 . 32 . 050 (2) . B. Payment for any additional assessment of taxes or penalties is due twenty days after the date of the assessment. Payment of the assessment after the established due date, or any extension thereof, will result in an additional ten percent late penalty, computed on the total amount due, including interest or other penalties. C. Excess Payment. If, upon receipt of an application by a taxpayer for a refund or upon an audit of the taxpayer's records, or upon an examination of the returns or records of any taxpayer, it is determined by the Audit Manager that within the statutory period for assessment of taxes prescribed herein, a tax has been paid in excess of that properly due, the excess amount of tax paid for tax owing within such statutory period shall be credited or refunded to the taxpayer by a warrant upon the general fund. No refund or credit shall be made for taxes associated with periods more than four years prior to the beginning of the calendar year in which the refund application is made or examination of records is completed, provided, the statutory period for an overpayment of an audit assessment starts at the assessment date. For refunds of amounts paid or other recovery allowed to a taxpayer after December 31, 1991, the rate of interest shall be the rate as computed by taking 75 percent of the current (daily) state pool rate compounded annually. 29