The Internal Revenue Service (IRS) will not adjust interest rates in the quarter beginning October 1, 2016, keeping them as follows:
- 4% for overpayments (3% for corporate overpayments);
- 1.5% for the portion of a corporate overpayment exceeding $10,000; and
- 4% for underpayments (6% for large corporate underpayments).
Generally, for non-corporation taxpayers, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points. For more information, click here.