IRS Interest Rates Unchanged for Q4 2019

The IRS has announced that the interest rates applicable to overpayments and underpayments of federal taxes for the fourth quarter of 2019 are the same as for the third quarter of the year (Rev. Rul. 2019-21). The rates are:

• 5% for overpayments by individuals and other noncorporate taxpayers
• 4% for overpayments by corporations
• 2.5% for the portion of a corporate overpayment exceeding $10,000;
• 5% for underpayments; and
• 7% for large corporate underpayments