IRS Interest Rates Unchanged for Q3 2021
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 3 percentage points. The interest rates the IRS uses will remain the same for the calendar quarter beginning July 1, 2021. The Rates Will Be... 3% for overpayments (two (2) % in the case of a corporation), 0.5% for the portion of a corporate overpayment exceeding $10,000, 3% f