The IRS has announced that the interest rates on overpayments and underpayments of tax for the calendar quarter beginning October 1, 2017, will remain unchanged. The rates will be:
- 4 percent for overpayments, other than corporations;
- 3 percent for overpayments by corporations (except 1.5 percent of the portion of a corporate overpayment exceeding $10,000);
- 4 percent for underpayments (except large corporations); and
- 6 percent for large corporate underpayments.
Comment. These IRS rates, which are subject to inflation adjustments, have remained at the same levels since April 2016.