The California Franchise Tax Board (FTB) recently announced that interest rates for personal income tax underpayments and overpayments, corporate underpayments, and estimate penalties will increase to 6 percent for 2019. The corporate overpayment interest rate will increase to 2 percent this year. For more information, click here.
The Internal Revenue Service (IRS) has updated its applicable federal rates (AFRs) used for a variety of IRS calculations, such as the minimum interest rate for intra-family loans. For calendar year 2017, AFRs for short-term loans have increased from 0.96 percent to 1.52 percent, AFRs for mid-term loans have fluctuated around 2 percent, and AFRs for long-term loans have fluctuated between 2.6 percent and 2.82 percent. For a detailed list of AFRs by month and year, click here.
The Internal Revenue Service (IRS) will not adjust interest rates in the quarter beginning October 1, 2016, keeping them as follows:
The California Franchise Tax Board recently announced that it will be increasing the interest rate for personal, corporate, and franchise taxes from three to four percent beginning January 1, 2017. The rate for corporation tax overpayments will remain zero percent. The interest rate has not changed since July 1, 2012.
The Internal Revenue Service announced that interest rates will not change for the calendar quarter beginning July 1, 2016. Current rates are:
The Internal Revenue Service announced an increase to interest rates for the calendar quarter beginning April 1, 2016. The new interest rates will be:
WASHINGTON - The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning Jan. 1, 2012. The rates will be: