Washington (Sept. 1, 2004) -- Interest rates for the calendar quarter beginning Oct. 1 are up by a percentage point, the Internal Revenue Service announced.
The new interest rates are computed from the federal short-term rate based on daily compounding determined in July.
The interest rates are: 5 percent for overpayments (4 percent in the case of a corporation); 5 percent for underpayments; 7 percent for large corporate underpayments; and 2.5 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
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access