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North Las Vegas Nevada Form 2220: What You Should Know
Street • Rancho Destiny Las Vegas | Rachel E. Glottal Copyright 2024 Clark County Economic Development Corporation. All rights reserved. (2) Amount of Underpayment. — The understatement is the decrease in the taxable amount of the company or individual. (3) Amount of Remedy. — (a) No Remedy. — No amount of the underpayment may be recovered with interest or penalty. (b) Interest, Penalty, & Costs. — Interest shall accrue at a rate equal to one and one-half percent (1.5%) per month from the date payment is made and payable at the times stated in (c) below and shall be deducted and added to the tax or to the gross tax, whichever is greater, but in no event shall interest, penalties or costs exceed (5 × 0.25 / 75,000) = 5,000. Interest, Penalty, & Costs. — Interest, penalties, and costs shall accrue, as follows: (i) First Month. — The interest rate and the base amount shall be the same as when the underpayment was first calculated, with each of those amounts adjusted by the number of days (0 to 365) the underpayment is delayed beyond the end of the taxable year. (ii) Fourth Month. — The interest rate and the base amount shall be the same as when the underpayment was first calculated, with each of those amounts adjusted by the number of days (0 to 365) the underpayment is delayed beyond the end of the taxable year. (iii) Fifth Month. — The interest rate and the base amount shall be the same as when the underpayment was first calculated, with each of those amounts adjusted by the number of days (0 to 365) the underpayment is delayed beyond the end of the taxable year. (iv) Sixth Month. — The interest rate and the base amount shall be the same as when the underpayment was first calculated, with each of those amounts adjusted by the number of days (0 to 365) the underpayment is delayed beyond the end of the taxable year. (v) Seventh Month. — The interest rate and the base amount shall be the same as when the underpayment was first calculated, with each of those amounts adjusted by the number of days (0 to 365) the underpayment is delayed beyond the end of the taxable year. (vi) Eighth and Further Months.
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