No Change in the Interest Rates for the Fourth Quarter, 2007
WASHINGTON – The Internal Revenue Service today announced there will be no change in the interest rates for the calendar quarter beginning Oct. 1, 2007. The interest rates are as follows:
8 percent for overpayments (7 percent in the case of a corporation);
8 percent for underpayments;
10 percent for large corporate underpayments; and
5.5 percent for the portion of a corporate overpayment exceeding $10,000.
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.
See Revenue Ruling 2007-56 , announcing the new rates of interest, for detail.
WASHINGTON – The Internal Revenue Service today announced there will be no change in the interest rates for the calendar quarter beginning Oct. 1, 2007. The interest rates are as follows:
8 percent for overpayments (7 percent in the case of a corporation);
8 percent for underpayments;
10 percent for large corporate underpayments; and
5.5 percent for the portion of a corporate overpayment exceeding $10,000.
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.
See Revenue Ruling 2007-56 , announcing the new rates of interest, for detail.