Washington (June 7, 2004) -- The Internal Revenue Service announced that interest rates for underpayments and overpayments for the calendar quarter beginning July 1 will drop by one percentage point, returning to the levels held from last October through March of this year.
The new rates will be 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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