The Internal Revenue Service today announced that interest rates will stay the same for the quarter beginning Apr. 1, 2013. 

The rates will be: 

  • Three (3) percent for overpayments (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.

The interest rate is determined on a quarterly basis.  For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points. 
The Q2 interest rates were computed from the federal short-term rate determined during January 2013 to take effect Feb. 1, 2013, based on daily compounding.

Revenue Ruling 2013-6 will appear in Internal Revenue Bulletin 2013-13, dated March 25, 2013.

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