The IRS announced today that interest rates for the calendar quarter beginning January 1, 2010, will remain the same.
The rates will be:
- Four (4) percent for overpayments [three (3) percent in the case of a corporation];
- Four (4) percent for underpayments;
- Six (6) percent for large corporate underpayments; and
- One and one-half (1.5) percent for the portion of a corporate overpayment exceeding $10,000.
The interest rates announced today are computed from the federal short-term rate during October 2009 to take effect November 1, 2009, based on daily compounding.
Revenue Ruling 2009-37, announcing the rates of interest, will appear in Internal Revenue Bulletin No. 2009-52, dated December 28, 2009.
See: IRS Newswire, "Interest Rates Remain the Same for the First Quarter of 2010," IR-2009-107, Nov. 23, 2009
Posted by Marc Patterson, Associate Editor, Wealth Strategies Journal.
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