Monday, September 19, 2016

Interest Rates Remain the Same for the Fourth Quarter of 2016


The Internal Revenue Service announced that interest rates will remain the same for the calendar quarter beginning Oct. 1, 2016.  The rates will be:

four (4) percent for overpayments (three (3) percent in the case of a corporation);
1 and one-half (1.5) percent for the portion of a corporate overpayment exceeding $10,000;
four (4) percent for underpayments; and
six (6) percent for large corporate underpayments.
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.

Courtesy of IRS

For more information contact Neikirk, Mahoney and Smith at 502-896-2999

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