IRS releases interest rates for second quarter 2017

Interest rates charged by the IRS on underpaid taxes and applied by the IRS on tax overpayments will remain the same for the second quarter of 2017 (April 1 through June 30). Therefore, the rates will be the following:

For individuals:

  • 4% charged on underpayments; 4% paid on overpayments.

For corporations:

  • 4% charged on underpayments; 3% paid on overpayments.

  • 6% charged on large corporate underpayments.

  • 1.5% paid on the portion of a corporate overpayment exceeding $10,000.