The interest rates the IRS charges on underpaid taxes and pays on tax overpayments have gone up for the second quarter of 2016 (April 1 through June 30). Here are the new rates for individuals and corporations.

For individuals:

4% charged on underpayments; 4% paid on overpayments.

For corporations:

4% charged on underpayments; 3% paid on overpayments.

6% charged on large corporate underpayments.

1.5% paid on the portion of a corporate overpayment exceeding $10,000.

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