The IRS has announced that the interest rates applicable to overpayments and underpayments of federal taxes are the same in the fourth quarter of 2020 as they were in the third quarter of 2020 (Rev. Rul. 2020-18). The rates are:
The tax on the investment income in excess of $1,700 (may change after 2007) of a child under age 18, based on the parents’ marginal tax rate and computed on Form 8615.