New tax forms

IRS interest rates are unchanged for the fourth quarter of 2013 (October 1, 2013, through December 31, 2013). These are the rates changed on underpayments and overpayments:

• 3% for overpayments (2% for a corporation);
• 3% for underpayments;
• 5% for large corporate underpayments; and
• 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. 2013-16