Tip of the Week: Fourth Quarter Interest Rates Remain Unchanged
In IR-2010-090, the Internal Revenue Service (IRS) announced that interest rates for the fourth quarter of 2010 would remain unchanged from the third quarter. The rates are as follows:
- Four (4) percent for overpayments [three (3) percent in the case of a corporation];
- Four (4) percent for underpayments;
- Six (6) percent for large corporate underpayments; and
- One and one-half (1.5) percent for the portion of a corporate overpayment exceeding $10,000.
Revenue Ruling 2010-21 Contains Official Rate Announcement
The IRS will publish the rates in Revenue Ruling 2010-21. Contact Vision Payroll if you have any questions on the fourth quarter rates.
Vision Payroll