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.

-- WebCPA staff

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access