News

Beginning April 1, 2017 for the duration of the quarter, the IRS announced that interest rates will remain at 4% for over-payments and underpayments.

In regard to corporations, interest rates will be:

• 4 percent for over-payments [3 percent in the case of a corporation]
• 1.5 percent for the portion of a corporate over-payment exceeding $10,000
• 4 percent for underpayments; and
• 6 percent for large corporate underpayment

For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.