IRS Interest Rates Unchanged for Third Quarter

The interest rates that the will IRS charge on underpayments and pay on overpayments remains unchanged for the third quarter of 2013 (July 1 through September 30). The rates are:

• 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. 2013-10