Interest rates charged by the IRS on underpaid taxes and applied by the IRS on tax overpayments will increase for the second quarter of 2018 (April 1 through June 30). Here are the new rates:
For individuals:
- 5 percent charged on underpayments
- 5 percent paid on overpayments
For corporations:
- 5 percent charged on underpayments
- 4 percent paid on overpayments
- 7 percent charged on large corporate underpayments
- 2.5 percent paid on the portion of a corporate overpayment exceeding $10,000