IRS drops interest rates — for now
December 11, 2008 by Carol KatarskyPosted in: Communication, IRS regs, In this week's e-newsletter, Latest news & views, Tax compliance
If you’re due back an overage — or need to make good on an accidental underpayment — take note of the latest announcement from IRS.
As of Jan. 1, the new rates in effect for the first quarter of ‘09 are:
- 4 percent for a corporate overpayment
- 2.5% for the portion of a corporate overpayment that exceeds $10,000
- 5 percent for an underpayment, and
- 7% for large corporate underpayments.
Tags: A/P, Back taxes, Interest rates, IRS, Payroll
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