Wednesday, June 2, 2004
The IRS announced today that interest rates for the calendar quarter beginning July 1, 2004, will drop by one percentage point, returning to the levels held from last October through March of this year. The new rates will be:
• 4% for overpayments [3% for corporations]
• 4% for underpayments
• 6% for large corporate underpayments
• 1.5% for the portion of a corporate overpayment exceeding $10,000
