IRS Interest Rates to remain the same for 1st Qtr. 2013

The Internal Revenue Service has announced that interest rates will remain the same for the calendar quarter beginning Jan. 1, 2013.  The rates will be:

  • three (3) percent for overpayments [two (2) percent in the case of a corporation];
  • three (3) percent for underpayments;
  • five (5) percent for large corporate underpayments; and
  • one-half (0.5) percent for the portion of a corporate overpayment exceeding $10,000.

Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis.