The Internal Revenue Service announced that interest rates will remain unchanged for the calendar quarter beginning April 1, 2020. The rates are:
• Five (5) percent for individual overpayments (refunds)
• Five (5) percent for individual underpayments (balance due)
Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For Taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.
Submitted March 03, 2020 at 09:25PM by these-things-happen https://ift.tt/2IgD8J5
