IRS releases interest rates for second quarter 2017
Interest rates charged by the IRS on underpaid taxes and applied by the IRS on tax over-payments will remain the same for the second quarter of 2017 (April 1 through June 30). Therefore, the rates will be the following:
For individuals:
- 4% charged on underpayments
- 4% paid on over-payments.
For corporations:
- 4% charged on underpayments
- 3% paid on over-payments.
- 6% charged on large corporate underpayments.
- 1.5% paid on the portion of a corporate over-payment exceeding $10,000.