Over- and underpayment interest rates remain same for fourth quarter 2017

The IRS has announced that the interest rates on overpayments and underpayments of tax for the calendar quarter beginning October 1, 2017, will remain unchanged. The rates will be:

  • 4 percent for overpayments, other than corporations;
  • 3 percent for overpayments by corporations (except 1.5 percent of the portion of a corporate overpayment exceeding $10,000);
  • 4 percent for underpayments (except large corporations); and
  • 6 percent for large corporate underpayments.

Comment. These IRS rates, which are subject to inflation adjustments, have remained at the same levels since April 2016.