December 10, 2013 4:33 pm

IRS Interest Rates for Q1 2014

IRS interest rates are unchanged for the first quarter of 2014 (January 1, 2014, through March 31, 2014). These are the rates changed on underpayments and overpayments:

  • 3% for overpayments (2% for a corporation)
  • 3% for underpayments
  • 5% for large corporate underpayments
  • 0.5% for the portion of a corporate overpayment exceeding $10,000

The 3% rate applies to underpayments of estimated taxes by individuals. All of these rates have held steady since October 1, 2011.

Source: Rev. Rul. 2013-25

Tax Glossary

Accountable reimbursement plan

An employer reimbursement or allowance arrangement that requires you to adequately substantiate business expenses to your employer, and to return any excess reimbursement.

More terms