IRS Interest Rates for Q1 2020

The interest rates on overpayments and underpayments are unchanged from the fourth quarter of 2019 (Rev Rul. 2019-28). The rates are:

• Noncorporate overpayments and underpayments: 5%
• Corporate overpayments: 4% generally, but 2.5% for corporate overpayments exceeding $10,000
• Corporate underpayments: 5% generally but 7% for large corporate underpayments

The 5% rate is used to figure estimated tax penalties for individuals for the first quarter of 2020 and also the first 15 days of April.