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IRS Interest Rates to Remain the Same for the First Quarter of 2012

by | 13 Jan | Taxes - Planning, Rules and Returns

Posted by Howard Kass, CPA

The Internal Revenue Service recently announced that interest rates would remain the same for the 2012 calendar quarter beginning on January 1st.

What are these rates for Q1 2012?

In 2012, these rates will remain as:

    • 3.0% for overpayments (2% for a corporation)
    • 3.0% for underpayments
    • 5.0% for large corporate underpayments
    • 0.5% for the portion of a corporate overpayment exceeding $10,000.

The 3% rate also applies to estimated tax underpayments for the first calendar quarter in 2012 and for the first 15 days in April 2012.

Click here to learn about how more about how these rates are determined and how they are different for large corporations…

Need more information regarding these IRS interest rates and their impact on both individual and corporate payments in 2012? Contact Howard J. Kass, CPA – Partner, at hkass@zinnerco.com.

 
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