{"id":1296,"date":"2016-12-05T16:03:12","date_gmt":"2016-12-05T22:03:12","guid":{"rendered":"http:\/\/cookco.us\/news\/?p=1296"},"modified":"2016-12-05T16:03:12","modified_gmt":"2016-12-05T22:03:12","slug":"interest-rates-remain-the-same-for-the-first-quarter-of-2017","status":"publish","type":"post","link":"https:\/\/cookco.us\/news\/interest-rates-remain-the-same-for-the-first-quarter-of-2017\/","title":{"rendered":"Interest Rates Remain the Same for the First Quarter of 2017"},"content":{"rendered":"<p>The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning January 1, 2017.\u00a0 The rates will be:<\/p>\n<ul>\n<li>four (4) percent for overpayments [three (3) percent in the case of a corporation];<\/li>\n<li>1 and one-half (1.5) percent for the portion of a corporate overpayment exceeding $10,000;<\/li>\n<li>four (4) percent for underpayments; and<\/li>\n<li>six (6) percent for large corporate underpayments.<\/li>\n<\/ul>\n<p>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<p>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<p>The interest rates announced today are computed from the federal short-term rate determined during October 2016 to take effect November 1, 2016, based on daily compounding.<\/p>\n<p><a href=\"https:\/\/www.irs.gov\/pub\/irs-drop\/rr-16-28.pdf\">Revenue Ruling 2016-28<\/a> announcing the rates of interest will appear in Internal Revenue Bulletin 2016-51, dated December 19, 2016.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning January 1, 2017.\u00a0 The rates will be: four (4) percent for overpayments [three (3) percent in the case of a corporation]; 1 and one-half (1.5) percent for the portion of a corporate overpayment exceeding $10,000; four (4) [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1297,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"apple_news_api_created_at":"2016-12-05T22:03:44Z","apple_news_api_id":"5cdb2b36-0dd6-419d-a147-cdfa5f8afa04","apple_news_api_modified_at":"2016-12-05T22:03:44Z","apple_news_api_revision":"AAAAAAAAAAD\/\/\/\/\/\/\/\/\/\/w==","apple_news_api_share_url":"https:\/\/apple.news\/AXNsrNg3WQZ2hR836X4r6BA","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-1296","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\/1296","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=1296"}],"version-history":[{"count":0,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/posts\/1296\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/media\/1297"}],"wp:attachment":[{"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/media?parent=1296"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/categories?post=1296"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/tags?post=1296"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}