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IRS announces interest rates for first quarter 2018

Thursday, December 7, 2017   (0 Comments)
Posted by: Zach Zuber
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The Internal Revenue Service announced yesterday that interest rates will remain the same for the calendar quarter beginning Jan. 1. The rates will be:
• four percent for overpayments (three percent in the case of a corporation);
• 1.5 percent for the portion of a corporate overpayment exceeding $10,000;
• four percent for underpayments; and
• six percent for large corporate underpayments. 

Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus three percentage points.

From the Iowa Lawyer Weekly