2nd quarter interest rates increase

2nd quarter interest rates increase

Interest rates charged by the IRS on underpaid taxes and applied by the IRS on tax overpayments will increase for the second quarter of 2018 (April 1 through June 30). Here are the new rates:Interest rates charged by the IRS on underpaid taxes and applied by the IRS on tax overpayments will increase for the second quarter of 2018 (April 1 through June 30). Here are the new rates:

For individuals:
• 5 percent charged on underpayments
• 5 percent paid on overpayments 

For corporations:
• 5 percent charged on underpayments
• 4 percent paid on overpayments
• 7 percent charged on large corporate underpayments
• 2.5 percent paid on the portion of a corporate overpayment exceeding $10,000

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DiSabatino CPA
Michael DiSabatino
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Camarillo, CA 93012
Phone: 805-389-7300
ww.sharpcpa.com

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