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.
FTB Increases Interest Rates
IRS Updates AFRs; Interest Rates Remain Unchanged
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.
IRS Interest Rates Will Not Change in New Quarter
The Internal Revenue Service (IRS) will not adjust interest rates in the quarter beginning October 1, 2016, keeping them as follows:
California Tax Agency Interest Rates Scheduled to Increase in 2017
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.
IRS Interest Rates To Hold Steady in Third Quarter 2016
The Internal Revenue Service announced that interest rates will not change for the calendar quarter beginning July 1, 2016. Current rates are:
IRS Interest Rates Scheduled to Increase
The Internal Revenue Service announced an increase to interest rates for the calendar quarter beginning April 1, 2016. The new interest rates will be:
Interest rates remain the same with the IRS for the first quarter of 2012
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:
