Interest rates will remain steady for the coming quarter, according to the Internal Revenue Service.
The IRS announced that interest rates will remain at 3 percent for overpayments and 2 percent for corporations, while there is a 0.5 percent rate for corporate overpayments exceeding $10,000. There will also be a 3 percent interest rate for underpayments and 5 percent interest rate for large corporate underpayments.
These interest rates are effective for the calendar quarter beginning July 1, 2021.
According to the IRS, the overpayment and underpayment rate for all taxpayers other than corporations is the federal short-term rate plus 3 percent. The underpayment rate for corporations is the federal short-term rate plus three percent, and the overpayment rate is the federal short-term rate plus two percentage points.
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