$25.00 
Learn more
April 22, 2020 11:04 pm
IRS Interest Rates for Q2 2020
The interest rates on overpayments and underpayments for the second quarter of 2020 are unchanged from the first quarter rates (Rev Rul. 2020-7). 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 15 days of April.
advertisement
Featured Books
Tax Glossary
Appreciation in value
Increase in value of property due to market conditions. When you sell appreciated property, you pay tax on the appreciation since the date of purchase. When you donate appreciated property held long term, you may generally deduct the appreciated value.
