WASHINGTON \u2014 The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning Oct. 1, 2016.\u00a0 The rates will be:<\/p>\n
\u2022 four (4) percent for overpayments (three (3) percent in the case of a corporation);
\n\u2022 1 and one-half (1.5) percent for the portion of a corporate overpayment exceeding $10,000;
\n\u2022 four (4) percent for underpayments; and
\n\u2022 six (6) percent for large corporate underpayments.<\/p>\n
Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis.\u00a0 For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.<\/p>\n
Generally, in the case of a corporation, the underpayment rate is the federal short-term rate plus 3 percentage points and the overpayment rate is the federal short-term rate plus 2 percentage points. The rate for large corporate underpayments is the federal short-term rate plus 5 percentage points. The rate on the portion of a corporate overpayment of tax exceeding $10,000 for a taxable period is the federal short-term rate plus one-half (0.5) of a percentage point.<\/p>\n
The interest rates announced today are computed from the federal short-term rate determined during July 2016 to take effect Aug. 1, 2016, based on daily compounding.<\/p>\n","protected":false},"excerpt":{"rendered":"
WASHINGTON \u2014 The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning Oct. 1, 2016.\u00a0 The rates will be: \u2022 four (4) percent for overpayments (three (3) percent in the case of a corporation); \u2022 1 and one-half (1.5) percent for the portion of a corporate overpayment […]<\/p>\n","protected":false},"author":1,"featured_media":1056,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"apple_news_api_created_at":"2016-09-14T19:32:47Z","apple_news_api_id":"6e63b8e8-cf54-4b47-b2ea-ae02ea139c53","apple_news_api_modified_at":"2016-09-14T19:32:47Z","apple_news_api_revision":"AAAAAAAAAAD\/\/\/\/\/\/\/\/\/\/w==","apple_news_api_share_url":"https:\/\/apple.news\/AbmO46M9US0ey6q4C6hOcUw","apple_news_cover_media_provider":"image","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_cover_video_id":0,"apple_news_cover_video_url":"","apple_news_cover_embedwebvideo_url":"","apple_news_is_hidden":"","apple_news_is_paid":"","apple_news_is_preview":"","apple_news_is_sponsored":"","apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"middle","apple_news_slug":"","apple_news_sections":["https:\/\/u48r14.digitalhub.com\/sections\/74d71b26-dfe2-3cf6-9b79-55911f8259f1"],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1055","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"apple_news_notices":[],"_links":{"self":[{"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/posts\/1055","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/comments?post=1055"}],"version-history":[{"count":0,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/posts\/1055\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/media\/1056"}],"wp:attachment":[{"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/media?parent=1055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/categories?post=1055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/tags?post=1055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}