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Figure 20.2.14-6 Overlapping Period Time LineThe following information shows the time line reflecting the overlapping period of underpayment and overpayment interest for the Sanpete Sand and Gravel Corp. example. The descriptions for this time line will be described in rows from left to right from rows 1 through 6 to explain the information on the page. The information is displayed from where the interest computation periods begin and end, the interest rates that apply during the underpayment and overpayment interest periods, the amounts on which interest is computed during that period, and interest-free periods. Amounts enclosed in parentheses represent a credit amount.Row 1 of the time line contains four boxes reflecting the following information in box 1 through 4:Box 1 - beginning 200712 overpayment interest period 03152008 for ($85,000.00).Box 2 - 200712 04152008.Box 3 - 200712 Refund Date -9 days 06052008.Box 4 - 200712 09192009 Full Pay Exam Assessment.Row 2 shows a shaded rectangle (spanning between Box 1 and Box 3 of Row 1) that states “Overpayment interest at GATT rate on $35,000.00”, reflecting that interest on this amount is computed from 03152008 to 06052008.Row 3 shows a shaded rectangle (spanning between Box 1 and Box 2 of Row 1) that states “Overpayment Interest-free on $50,000.00”, reflecting the 03152008 to 04152008 overpayment interest-free period that results from Rev. Rul. 99-40.Row 4 contains two rectangles reflecting the following information:Box 1 of Row 4 contains an unshaded rectangle (spanning between Box 1 and Box 2 of Row 1) stating “underpayment Interest-free up to $50,000.00” reflecting the 03152008 to 04152008 underpayment interest-free period that results from Rev. Rul. 99-40.Box 2 of Row 4 contains a shaded rectangle (spanning between Box 2 and Box 3 of Row 1) stating “underpayment interest at GATT Rate on $35,000.00 with an asterisk” reflecting that underpayment interest is charged at the GATT rate on $35,000.00 of the $42,000.00 underpayment from 04152008 to 06052008.Row 5 contains three rectangles reflecting the following information:Box 1 of Row 5 states “200712 Exam Assessment 42,000.00” reflecting the beginning interest period for the Exam assessment.Box 2 of Row 5 states “underpayment interest at underpayment Rate on 7,000.00 with an asterisk” (spanning between Box 2 and Box 3 of Row 1) reflecting that underpayment interest is charged on $7,000.00 of the $42,000.00 underpayment at the prevailing underpayment interest rate from 04152008 through 06052008.Box 3 of Row 5 states “underpayment interest at underpayment Rate on 42,000.00 with an asterisk” (spanning between Box 3 and Box 4 of Row 1) reflecting that the underpayment interest at the prevailing rate continues on the $42,000.00 from 06052008 to 09192009, the date the Exam assessment was paid in full.Row 6 contains an unshaded rectangle providing a note on the use of the asterisk stating “*These amounts were rounded for illustration purposes only”.