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IRS overpayment, underpayment rates rise for 4th quarter

October 02, 2008

The interest rates for underpayments owed the IRS, and for refunds on overpayments, is rising 1 percentage point for the fourth quarter. The new rates, effective yesterday, are:

-Six (6) percent for overpayments [five (5) in the case of a corporation];
-Six (6) percent for underpayments;
-Eight (8) percent for large corporate underpayments; and
-Three and one-half (3.5) percent for the portion of a corporate overpayment exceeding $10,000.

Cite: IR-2008-111.

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