The IRS has announced that the interest rates for tax overpayments and underpayments for the calendar quarter beginning April 1, 2009, will decrease by a full percentage point. The interest rates are as follows:
- 4 percent for overpayments (3 percent in the case of a corporation);
- 4 percent for underpayments;
- 6 percent for large corporate underpayments; and
- 1.5 percent for the portion of a corporate overpayment exceeding $10,000.
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