It has been announced by the Internal Revenue Service that interest rates will remain the same for the calendar quarter which will begin from July 1, 2009.

The interest rates are as follows:

• For overpayments interest rates are 4% , in case of corporation they are 3%
• For underpayments interest rates are 4%
• For large corporate underpayments interest rates are 6%
• For the portion of a corporate overpayment exceeding $10,000 interest rates are one and one-half percent.

The rate of interest is determined on a quarterly basis under the Internal Revenue Code. The overpayment and underpayment rate is the federal short-term rate plus three percentage points for taxpayers other than corporations.

Generally, if we talk about a corporation the underpayment rate is the federal short-term rate plus three percentage points and the overpayment rate is the federal short-term rate plus two percentage points.

For large corporate underpayments the interest rates are the federal short-term rate plus five percentage points. The interest 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 of a percentage point.

These interest rates mentioned above are computed from the federal short-term rate which are based on daily compounding determined during April 2009

Related Articles

• International Banking
  For the people who are interested to invest their money in international banks. There are few essential picks to re-check their desire providing them a review of uncertain active factors of market that can be hindering to achieve their goals....
• Debt Consolidation Connection – Get rid of all your debts
  Debt Consolidation Connection is a highly rated debt relief company in America. They have made a name in the industry due to their great customer services and fast debt relief measures. They promise to make their customers debt free in 12 to 36 months dep...
• Debtmerica – Road to a Debt Free America
  Debtmerica LLC is one of the best debt negotiation companies. They are one of the highly applauded companies in America. They were also among the top 5000, fastest growing firms. It is also an accredited company and has recieved many awards for their top ...
• DebtRx – Your Debt Relief Companion
  DebtRx Settlement Company is a highly rated company. They have a really good customer care support. They have resolved millions of dollars for their customers. Their staff members have tons of experience in the field and they really excel in that....
• Century Negotiations – Complete Debt Relief in Few Months
  Century negotiations, is a debt consolidation firm. They have a nationwide presence. They excel in resolving many types of debts for their customers and have a lot of experience in it. They provide quick and excellent services. They have wide range of ser...