Texas HB3994 amends the computation of tax penalties and interest, clarifying how overpayments and underpayments are offset.

Texas HB3994 amends the Texas Tax Code to clarify the computation of tax penalties and interest. It specifies that the comptroller may offset an overpayment against an underpayment, penalty, and interest accrued on the underpayment for the same or other periods. The bill also details how interest accrues on overpayments or erroneous payments and how penalties are computed by deducting any overpayments of the same tax. The changes are clarifications of existing law and do not imply inconsistency with prior statutes.

Texas HB3994 amends the computation of tax penalties and interest, clarifying how overpayments and underpayments are offset.

Texas HB3994 amends the Texas Tax Code to clarify the computation of tax penalties and interest. It specifies that the comptroller may offset an overpayment against an underpayment, penalty, and interest accrued on the underpayment for the same or other periods. The bill also details how interest accrues on overpayments or erroneous payments and how penalties are computed by deducting any overpayments of the same tax. The changes are clarifications of existing law and do not imply inconsistency with prior statutes.