Interest rates decrease for the third quarter of 2019

The Internal Revenue Service announced that interest rates will decrease for the calendar quarter beginning 1st July 2019. The rates will be:

  • 5% percent for overpayments [4% percent in the case of a corporation];
  • 5% percent for underpayments; and

Under the Internal Revenue Code, the rate of interest 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.

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