Fourth-Quarter Interest Rates Unchanged For Tax Underpayments, Overpayments

Quarterly interest rates on tax overpayments and underpayments won’t change for individuals or corporations in the calendar quarter beginning Oct. 1, the IRS announced.

The fourth-quarter interest rates for individual overpayments and underpayments will again be 3 percent, the Internal Revenue Service said Sept. 3 in Revenue Ruling 2014-23.

A 2 percent interest rate will apply to corporate overpayments and a 3 percent interest rate will apply to corporate underpayments. Large corporate underpayments are subject to a 5 percent interest rate, the IRS said.

The overpayment rate for the portion of corporate overpayments exceeding $10,000 will stay steady at ...